Arab Today, arab today sanofi profits plunge as patents expire
Last Updated : GMT 08:53:10
Arab Today, arab today
Arab Today, arab today

Sanofi profits plunge as patents expire

Arab Today, arab today

Arab Today, arab today Sanofi profits plunge as patents expire

Paris - AFP

French pharmaceutical group Sanofi reported a plunge in second-quarter profit on Thursday and lowered its year-end forecast, pushing the shares down 6.29 percent. But the company said it expected a return to growth in the second half of the year, and highlighted the unfavourable comparative effect of the ending of some patent rights. Net profit in the second quarter fell by 61.5 percent to 444 million euros ($675 million) and sales fell by 9.8 percent to 8.0 billion euros. This reflected mainly the end of exclusive patents rights to some products -- a so-called cliff effect -- and to exceptional items in Brazil. The net profit on activities, which Sanofi uses as its main performance indicator, fell by 23.4 percent in the quarter from the equivalent figure last year to 1.48 billion euros, disappointing analysts. Sanofi said that as a consequence it was downgrading its target for net earnings per share this year to a fall of 7.0-10.0 percent at constant exchange rates from previous guidance of zero change to a fall of 5.0 percent. The price of shares in the group was showing a fall of 6.29 percent to 75.13 euros in mid-morning trading. The overall French market as measured by the CAC 40 index was showing a gain of 0.20 percent. At brokers Aurel BGC, analyst Tangi Le Liboux commented that the figure amounted to \"a big setback in the second quarter\". The chief executive of Sanofi, Chris Viehbacher, said that conditions in the second quarter had been very difficult but also noted that this would be the last quarter of comparison with a high level of profits last year, because of the effects of expiring exclusive patent rights. However, the fundamental position of the group was just as strong as last year and the group was progressing well on many fronts, notably on research and development and on emerging markets, he said. The group had also suffered from problems in Brazil where it had to manage unduly high stocks of generic drugs. This hit sales to the extent of 122 million euros and had added a provision of 79 million euros.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today sanofi profits plunge as patents expire Arab Today, arab today sanofi profits plunge as patents expire

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today sanofi profits plunge as patents expire Arab Today, arab today sanofi profits plunge as patents expire

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday