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Monday, July 30, 2018

Sanofi Q2 2018 Performance Positions for New Growth Phase


 Q2 2018ChangeChange 
at CER
H1 2018ChangeChange 
at CER
IFRS net sales reported€8,176m-5.7%+0.1%€16,074m-7.2%-0.1%
IFRS net income reported€762m-26.2%€1,778m-73.6%(2)
IFRS EPS reported€0.61-25.6%€1.42-73,4%(2)
Business net income(1)€1,558m-7.9%+0.4%€3,156m-9.4%+0.4%
Business EPS(1)€1.25-6.7%+1.5%€2.53-8.3%+1.4%

Second-quarter 2018 sales stable(3) with strong contributions from Specialty Care and Emerging Markets

  • Net sales were €8,176 million, down 5.7% on a reported basis, up 0.1%(3) at CER and down 2.5% at CER/CS (4).
  • Sanofi Genzyme sales up 14.1% at CER/CS (4) (33.1% at CER) driven by Dupixent® and consolidation of Bioverativ.
  • Vaccines sales down 15.7% reflecting high basis for comparison and expected Pentaxim® supply constraint in China.
  • CHC sales increased 4.1% supported by growth in Europe and Emerging Markets(5).
  • DCV(6) GBU sales down 15.6%; global Diabetes franchise sales declined 11.9%, confirming expected trend for year.
  • Emerging Markets sales(5) increased 5.2% with double-digit growth in China.
2018 business EPS guidance range slightly narrowed
  • Second-quarter 2018 business EPS(1) up 1.5% at CER to €1.25.
  • Second-quarter 2018 IFRS EPS was €0.61 (-25.6%).
  • Business EPS(1) in 2018 now expected to grow 3% to 5% at CER(7) barring unforeseen major adverse events.
  • Currency impact on 2018 business EPS is estimated to be around -6% applying the average July exchange rates.
Key achievements in sustaining innovation in R&D
  • Sanofi completed the acquisition of Ablynx in May, internalizing the innovative Nanobody® platform.
  • Positive CHMP recommendation for CabliviTM for aTTP(8).
  • Phase 1/2a data on BIVV001, an extended factor VIII therapy, demonstrated half-life of 37 hours.
  • A phase 2/3 study is being initiated on venglustat, an oral glucosylceramide synthase (GCS) inhibitor, in ADPKD(9).
  • Positive phase 3 trial evaluating Dupixent® to treat moderate-to-severe atopic dermatitis in adolescents.
  • Priority review granted in the U.S. to cemiplimab for the treatment of CSCC(10).
  • ZynquistaTM (sotagliflozin) accepted for review by the FDA in type 1 diabetes.
  • Praluent® ODYSSEY OUTCOMES results submitted to the FDA and EMA in Q2.

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