In a statement, Sanofi (NASDAQ:SNY) continues to expect a “low single-digit” drop in Q2 revenues from a year ago and lower sequentially due to COVID-19-related product stocking.
It expectations assume a reduction in pharmaceutical in-channel inventory build, a negative impact in travel vaccines and immunization, continuation in flu demand, China recovery, unwinding in consumer stocking, lower pharmacy traffic and continued delivery on efficiencies.
Citing its $11.7B sale of most of its stake in Regeneron, Q2 non-GAAP net income will exclude the effect of the equity method of accounting related to its Regeneron investment in the share of profit/loss of associates and joint ventures line. The effect will be presented as a reconciling item between IFRS net income and business net income.
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