Strong First Half Sales At Sanofi

Sanofi of France had a strong first half, with the second quarter of 1994 marked by an acceleration of sales growth. Total sales in the first six months of the year amounted to 12.3 billion French francs ($2.3 billion), an increase on the year-earlier period of 16.2%. On a comparable basis, the increase was 6.1%.

The health care division achieved sales of 6.7 billion francs, up 11.8% (6.9% comparable). Pharmaceutical sales were said to have been good in the major European markets. Perfumes and beauty product sales were 1.95 billion francs, up 3.6% on a comparable basis. The company is divesting some of its lines in this sector (see page 5). Sales of bio-activities were ahead 7.9% on a comparable basis, but otherwise down 4.1% to 3.6 billion francs.

The sell-off of some of its perfume lines, and in particular, possible divestments of its bio-activities business, to pay for its acquisition of Sanofi Winthrop's prescription business (Marketletters passim) has led to opposition from French trade unions, reports European Chemical News. The unions suggest that the divestments will upset Sanofi's three-pronged strategy of recent years, which is based on health, beauty and bio-activities.