Boston, MA 04/30/2014 (wallstreetpr) – Drug maker Sanofi SA (ADR) (NYSE:SNY) delivered first quarter results that is in line with the full year targets set by itself. The company’s diabetes and consumer healthcare divisions produced double-digit growth even as the net sales grew 3.5% on an adjusted basis.
The company’s bottom line, on a non-GAAP basis, i.e. business EPS, advanced 5.8 percent at constant exchange rate. Sanofi’s chairman and CEO Chris Viehbacher said that both its bottom line and top line growth were in line with their expectations or full year projections.
While net sales rose 3.5% to Euro 7.84 billion, Business net income, a non-GAAP measure, grew 5.6 percent to Euro 1.55 billion or Euro 1.17 a share. Its diabetes division recorded a growth of 13.2% to Euro 1.66 billion, whereas consumer healthcare products generated sales of Euro 885 million, which is 18.6% more than the last year quarter.
Similarly, Genyme’s sales advanced 21.5% to Euro 566 million fuelled by Aubagio sales of Euro 78 million, recording more than two-fold increase over the previous year period. The company’s Animal Health division, which is in the news for different reasons, registered a 1.6% fall in sales to Euro 517 million despite emerging markets recording a 3.9% growth to Euro 121 million.
The overall emerging markets sales during the first quarter grew 5.5% to Euro 2.59 billion with double-digit growth from Diabetes, consumer healthcare and Genzyme by 16.1% and 18.2% respectively.
Sanofi SA (ADR) (NYSE:SNY) has 50 projects in the pipeline, in its Research and Development program, and 12 of them are in phase III stage. Its new products such as Nasacort Allergy 24 HR and NexGard generated solid interest in the pharmacy and the company is planning to have more launches during the second half of the current year. This includes dengue vaccine, Cerdelga, alirocumab, and dupilumab.
While Sanofi SA (ADR) (NYSE:SNY) disclosed that its cost of sales was well within its guidance, the currency has impacted its sales unfavorably by 6.2% as a result of a stronger U.S. dollar. The company continues to see the currency impact in the remainder of the year too.
