sanofi gets shot in the arm from dollar strength
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Sanofi gets shot in the arm from dollar strength

Arab Today, arab today

Arab Today, arab today Sanofi gets shot in the arm from dollar strength

Sanofis' net profit for 2015 came in at 7.4 bn
Paris - AFP

French pharmaceutical giant Sanofi reported a healthy rise in profits on Tuesday thanks to the strong dollar, benefitting from a foreign exchange windfall.

Sanofis' net profit for 2015 came in at 7.4 billion euros ($8.3 billion), up 7.7 percent from the previous year.

Much of Sanofi's earnings are in dollars, resulting in higher profits when converted into euros, the company's reporting unit, during times of greenback strength.

Stripping out currency factors, earnings fell 0.9 percent.

Sanofi's sales were 37 billion euros, somewhat below analysts' expectations.

Sanofi's rare disease division Genzyme, which it acquired in 2011, continued to underpin the group's overall performance with a turnover rise of close to 30 percent.

But sales of Sanofi's flagship anti-diabetes drug Lantus suffered from competition from generics.

But Sanofi's own generic drugs sold well, mostly in emerging markets, as did vaccines, the company said.

Animal health also had a good year, but Sanofi is still hoping to spin off its animal health unit Merial, in a swap for the consumer health unit of German peer Boehringer Ingelheim.

Net profit in the fourth quarter alone was 1.7 billion euros, down 6.5 percent.

For 2016, Sanofi said it expects earnings per share (EPS) to be "broadly stable", excluding currency factors.

Last November, Sanofi warned that profits would stagnate for the next two years during a major restructuring drive, which would include a streamlining of its product portfolio, cost cutting and job cuts.

 

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*

sanofi gets shot in the arm from dollar strength sanofi gets shot in the arm from dollar strength

 



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*

sanofi gets shot in the arm from dollar strength sanofi gets shot in the arm from dollar strength

 



GMT 14:30 2017 Sunday ,22 October

Abe coalition wins resounding victory in Japan vote

GMT 09:44 2017 Tuesday ,17 October

Morocco arrests 11 suspects linked to ISIS

GMT 13:09 2015 Tuesday ,09 June

Slaven Bilic returns to West Ham as manager

GMT 16:04 2017 Saturday ,30 September

Got a yacht? Proposed French tax break makes waves

GMT 13:06 2016 Saturday ,31 December

Syrian passport trade becomes unlikely cash cow

GMT 04:47 2017 Wednesday ,30 August

Mark Zuckerberg welcomes second daughter in Facebook

GMT 00:59 2014 Saturday ,07 June

January 19 - February 17

GMT 10:53 2017 Wednesday ,05 July

AU Summit gives priority to youth empowerment

GMT 17:26 2017 Wednesday ,15 February

Russian jets in ‘unsafe’ encounters with destroyer
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

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday