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Sanofi ups 2017 outlook on strong 2Q sales

July 31, 2017

French pharmaceutical company Sanofi has raised its outlook for 2017 after strong sales growth in the second quarter in its consumer healthcare, vaccines and genzyme divisions offset its struggling diabetes arm. Sanofi said on Monday that net sales grew 5.5 per cent year-on-year at constant exchange rates in the second quarter to €8.66bn. Business net profit dipped 0.5 per cent at constant exchange rates to €1.7bn. This is roughly in line with analysts polled by Reuters who expected net sales of €8.7bn and net profit of €1.7bn. Earnings per share grew 1.5 per cent at constant exchange rates to €1.35 and Sanofi raised its full-year guidance saying that it expects earnings per share to be broadly stable this year. In 2016 the group’s earnings per share were €5.68.

Olivier Brandicourt, chief executive officer, said in a statement: “Sanofi Genzyme, Sanofi Pasteur and emerging markets were once again major contributors to our performance in the quarter. The continued growth of these businesses, together with disciplined expense management, enabled us to more than offset the headwinds in our diabetes franchise.”

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