|Wednesday, 7 February 2018, 15:00 HKT/SGT|
PARIS, FRANCE, Feb 7, 2018 - (ACN Newswire) - Sanofi Delivers 2017 Business EPS(1) in line with Guidance
Q4 2017 sales reflect strong Dupixent(R) launch offset by anticipated declines in U.S. diabetes and Renagel(R)
- Net sales were EUR8,691 million, down 2.0% on a reported basis and up 4.1%(3) at CER. At CER/CS(3), net sales were down 1.6%.
- Strong Sanofi Genzyme sales growth (up 16.8%) driven by contribution from new immunology franchise.
- Sanofi Pasteur sales increased 1.2% at CER/CS impacted by order phasing effects and Dengvaxia(R).
- CHC sales grew 2.5% at CER/CS.
- Diabetes and Cardiovascular GBU sales down 19.1%.
- Emerging Markets(4) sales increased 2.1% at CER/CS, driven by Pharmaceuticals which increased 4.0% at CER/CS.
Sanofi Genzyme, Sanofi Pasteur and Emerging Markets sales growth more than offset Diabetes sales decline in 2017
- Net sales in 2017 were EUR35,055 million, up 3.6% on a reported basis and 5.6%(2) at CER. Net sales were up 0.5% at CER/CS.
- Sanofi Genzyme grew 15.1% to EUR5,674 million while Sanofi Pasteur increased 8.3% (at CER/CS) to EUR5,101 million.
- Emerging Markets sales were up 6.0% at CER/CS supported by strong performance in China (up 15.1% at CER/CS).
- Diabetes and Cardiovascular GBU sales declined 14.3% to EUR5,400 million.
Sanofi meets its full-year 2017 business EPS guidance
- Q4 2017 business EPS(1) decreased 8.8% at CER to EUR1.06, including financial impact from Dengvaxia(R) (-EUR0.10).
- 2017 business EPS(1) of EUR5.54 (-0.4% at CER) and IFRS EPS of EUR6.71 (+83.3% on a reported basis).
- Net debt was EUR5,229 million at the end of 2017, a decrease from EUR8,206 million at the end of 2016.
- Board proposes dividend of EUR3.03, an increase of 2.4%.
- 2017 business net income (BNI) effective tax rate unaffected by the U.S. tax reform. In 2018, Sanofi expects the BNI effective tax rate to be around 22% primarily as a result of U.S. tax reform(5).
Sanofi progresses on its strategic priorities
- Sanofi to acquire Bioverativ(6) for $11.6 billion to expand in specialty care and strengthen its leadership in rare diseases.
- Sanofi to acquire Ablynx(6) for EUR3.9 billion to strengthen its R&D strategy with innovative Nanobody(R) technology platform.
- Agreement signed with Regeneron to accelerate and expand investments for the development of cemiplimab and dupilumab.
- FDA supplemental BLA submission for dupilumab in uncontrolled persistent asthma for adults and adolescents.
2018 financial outlook
- Sanofi expects 2018 business EPS(1) to grow between 2% and 5%(7) at CER, including the anticipated contribution from the recently announced acquisitions, barring unforeseen major adverse events. Applying the average December 2017 exchange rates, the currency impact on 2018 business EPS is estimated to be -3% to -4%.
Sanofi Chief Executive Officer, Olivier Brandicourt, commented: "In 2017, we continued to execute on our strategic goals with the strong launch of Dupixent(R), the positive pivotal data for cemiplimab and for dupilumab in asthma. At the same time, we managed the challenges in U.S. diabetes as well as the impact from sevelamer generics and Dengvaxia(R). Recently, we announced a series of strategic steps - we are obtaining the global rights to fitusiran and plan to acquire Bioverativ and Ablynx - which will establish Sanofi as a new global leader in rare blood disorders. Additionally, these actions will further strengthen our pipeline and provide us with the powerful new Nanobody(R) technology platform. Overall, after a period of significant reshaping since 2015, we are positioned to drive growth in 2018."
Q4 2017 Results: http://hugin.info/152918/R/2166628/833842.pdf
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Feb 7, 2018 15:00 HKT/SGT
Topic: Press release summary
Sectors: Science & Research, BioTech, HealthCare
From the Asia Corporate News Network
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