France's Sanofi’s Q2 net income falls 23% on expiry of key patents

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)

By: Franco Capaldo
+44 (0)20 8652 3214

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