Sanofi says profits hit by patent expiry, vaccine problems

French pharmaceutical group Sanofi reported a slump in profits for the third quarter of the year on Wednesday owing to the lagging effects of the ending of exclusive patent rights.

The group, downgrading slightly the outlook for full-year results, said that fell, and that an additional factor weighing on performance was production problems for vaccines in the United States.

Net profit for the quarter fell by 21.2 percent to 1.2 billion euros ($1.65 billion) and sales by 6.7 percent to 8.4 billion euros.

Sanofi said that even though it expected to achieve renewed growth in the fourth quarter, the vaccine problem in the third quarter meant that it was lowering its outlook for to the lower end of its previous guidance.

This indicated a fall of about 10.0 percent in net profit.

Managing director Chris Viehbacher said that the effects of losing exclusive rights to some patents had ended in August, and that consequently sales had begun to rise in September.

add to favorites email to friend print save as pdf

Related Stories

Sanofi earnings slashed in first quarter

May 02, 2013

(AP)—French drug maker Sanofi said Thursday its net profit was slashed in the first quarter from a year earlier as falling sales and patent losses on key drugs combined to hammer earnings.

Sanofi warns on '13 profit as Q2 earns slump (Update)

Aug 01, 2013

Competition from generic drugs continued to hammer French pharmaceutical group Sanofi in the second quarter, the company said Thursday, warning that its full-year earnings could be twice as bad as previous guidance.

Dutch high-tech group ASML posts sharp Q1 slump

Apr 17, 2013

The Dutch company ASML, which supplies computer chip-making systems and is a global high-tech bellwether, posted on Wednesday sharp drops in sales and net profit for the first quarter 2013, but said it expected business to ...

Recommended for you

Amgen misses 1Q views as higher costs cut profit

Apr 22, 2014

Despite higher sales, biotech drugmaker Amgen's first-quarter profit fell 25 percent as production and research costs rose sharply, while the year-ago quarter enjoyed a tax benefit. The company badly missed ...

Valeant, Ackman make $45.6B Allergan bid

Apr 22, 2014

Valeant Pharmaceuticals and activist investor Bill Ackman have unveiled details of their offer to buy Botox maker Allergan, proposing a cash-and-stock deal that could be worth about $45.6 billion.

User comments