Headline results for the fourth quarter:
Prescription drug sales |
€6.5 billion ($7.1 billion) |
+4.3% |
Overall revenue |
€9.6 billion ($10.6 billion; in line with forecasts) |
+6.8% |
Loss |
€10 million ($11 million) |
Versus profit of €254 million ($279 million) |
Note: All changes are versus the prior-year period unless otherwise stated
What the company said:
"I am encouraged by the fourth-quarter results," commented CEO Paul Hudson, adding "the acceleration in sales performance was mainly driven by the impressive growth of Dupixent…and by our differentiated vaccines portfolio." The company indicated that impairment charges of €1.6 billion ($1.8 billion), related to Eloctate and Zantac, were recorded in the three-month period.
"We are making great progress in our ambition to transform Sanofi R&D and I am particularly excited by the positive proof-of-concept data for our BTK inhibitor, a potentially practice changing therapy for multiple sclerosis, announced today," Hudson remarked. In December last year, Sanofi detailed an overhaul of its research operations, halting work on diabetes and cardiovascular treatments to focus growth efforts on Dupixent and vaccines.
Other results:
Looking ahead:
Sanofi expects business earnings per share this year to grow around 5% at constant exchange rates.
What analysts said:
Citi analyst Peter Verdult remarked "we continue to like the set-up and see clear evidence that Sanofi is transitioning from perennial value trap to offering investors growth at a reasonable price."
Pipeline updates:
Sanofi confirmed that it has removed the viral vector prime and rgp120 boost vaccine from its pipeline following the recent failure of the HIV vaccine candidate HVTN 702. The regimen comprises the drugmaker's ALVAC-HIV canarypox-based vaccine and GlaxoSmithKline's GP120 protein subunit vaccine.
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