Sanofi Sales, Profit Beat Expectations
By Helena Smolak
Sanofi backed its full-year guidance after first-quarter sales and profit beat analysts expectations.
The French pharmaceutical company said Thursday that its business operating profit--one of the company's preferred metrics, which strips out exceptional items--fell 15% to 2.84 billion euros ($3.04 billion). The company's profitability was hit partly by higher costs.
Sales rose 2.4% to EUR10.46 billion, driven by continued strength in anti-inflammatory drug Dupixent and its new drug launches.
Analysts expected business operating profit of EUR2.75 billion on sales of EUR10.27 billion, according to a poll of 14 analysts by Visible Alpha.
Sanofi backed its earnings per share guidance for the year.
Write to Helena Smolak at helena.smolak@wsj.com
(END) Dow Jones Newswires
April 25, 2024 01:56 ET (05:56 GMT)
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