01 August 2013 10:22 [Source: ICIS news]
LONDON (ICIS)--Sanofi’s second-quarter business net income fell by 23% year on year on a reported basis to €1.48bn ($1.97bn) on the back of the expiry of certain key patents, the France-based pharmaceutical firm said on Thursday.
Net sales for the quarter fell by 9.8% to €8.0bn from the same period in 2012, principally impacted by sales lost due to generic competition, while earnings per share decreased by 24% to €1.11.
Sanofi CEO Christopher Viehbacher said: “The second quarter was a difficult quarter. As expected, this was the last quarter with a tough comparison to the prior year due to the residual impact of the patent cliff.
“Sales were also affected by our business in Brazil and commercial underperformance in certain business areas.”
Viehbacher said the company continues to expect to return to growth in the second half of 2013.
($1 = €0.75)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections