Sanofi has announced its sales for the second quarter (Q2) of 2018 were stable declining 0.1% at constant exchange rate (CER) to €8.2bn.

Exchange rate movements had a 5.8% negative effect driven primarily by the US dollar, but also the Brazilian Real, Argentine Peso, Japanese Peso and Russian Ruble.

Sales for the first half (H1) of 2018 declined 0.1% at CER to €16.1bn; currencies had a -7.1% impact.

Sales in the US declined 4.4% to €2.5bn in Q2 and fell 6.3% to €4.7bn in H1. Strong performances of immunology drug Dupixent and multiple sclerosis medication Aubagio, as well as a consolidation of sales for rare blood disorder drugs Eloctate and Alprolix were offset by a 30.1% sales decline for diabetes and 25.4% reduction for vaccines.

In contrast, sales in emerging markets increased by 5.2% to €2.5bn in Q2 and rose by 6.8% to €4.9bn in H1. This was driven mainly by strong performance in Asia and Eurasia. Sales in Asia grew 9% to €993m in Q2 and 9.2% to €2bn for H1; China experienced 11% sales growth to €613m. Eurasia experienced a 17.3% increase in sales to €307m due to strong growth in Russia and Turkey.

Sanofi’s global pharmaceuticals sales rose 1.9% to €6.3bn in Q2 driven by rare blood disorder and immunology franchises and partially offset by diabetes and established Rx products. Sales rose 0.5% to €12.2bn in H1.

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The company’s immunology franchise sales totalled €196m in Q2 and €313m in H1. The sector was led by Dupixent with €176m in Q2 and €283m in H1 compared to €26m in Q2 2017.

Its rare blood disorder franchise experienced a 15.5% increase in sales to €257m in Q2 and an 18.3% rise to €321m in H1. Eloctate’s sales grew 20% in Q2 to €176m and 23.3% to €219m in H1 and Alprolix’s sales increased by 6.6% to €81m in Q2 and 8.9% to €102m in H1.

Sanofi chief executive officer Olivier Brandicourt said: “In the second quarter, we achieved significant milestones in building our new Rare Blood Disorder franchise and the successful continued execution of the global roll-out of Dupixent. As the impact from the U.S. losses of exclusivity peaked in the second quarter, the growth of our diversified businesses largely compensated for these headwinds. We look forward to entering a new growth phase led by our increasing focus on Specialty Care and our leadership positions in emerging markets and vaccines.”

The company’s reported net income declined by 26.2% to €762m in Q2 and declined 73.6% to €1.8bn in H1. Business net income increased 0.4% at CER to €1.6bn in Q2 and to €3.2bn in H1.

Its reported earnings per share (EPS) declined 25.6% to €0.61 in Q2 and reduced by 73.4% to €1.42 in H1. Business EPS increased 1.5% at CER to €1.25 in Q2 and 1.4% to €2.53 in H1.

As a result of its Q2 results, Sanofi has slightly narrowed its EPS guidance for full year 2018. Business EPS is now expected to increase 3% to 5% at CER barring unforeseen major adverse events. The currency impact on business EPS is estimated to be approximately -6%.

Sales in the US declined 4.4% to €2.5bn in Q2 and fell 6.3% to €4.7bn in H1. Strong performances of immunology drug Dupixent and multiple sclerosis medication Aubagio, as well as a consolidation of sales for rare blood disorder drugs Eloctate and Alprolix were offset by a 30.1% sales decline for diabetes and 25.4% reduction for vaccines.

In contrast, sales in emerging markets increased by 5.2% to €2.5bn in Q2 and rose by 6.8% to €4.9bn in H1. This was driven mainly by strong performance in Asia and Eurasia. Sales in Asia grew 9% to €993m in Q2 and 9.2% to €2bn for H1; China experienced 11% sales growth to €613m. Eurasia experienced a 17.3% increase in sales to €307m due to strong growth in Russia and Turkey.

Sanofi’s global pharmaceuticals sales rose 1.9% to €6.3bn in Q2 driven by rare blood disorder and immunology franchises and partially offset by diabetes and established Rx products. Sales rose 0.5% to €12.2bn in H1.

The company’s immunology franchise sales totalled €196m in Q2 and €313m in H1. The sector was led by Dupixent with €176m in Q2 and €283m in H1 compared to €26m in Q2 2017.

Its rare blood disorder franchise experienced a 15.5% increase in sales to €257m in Q2 and an 18.3% rise to €321m in H1. Eloctate’s sales grew 20% in Q2 to €176m and 23.3% to €219m in H1 and Alprolix’s sales increased by 6.6% to €81m in Q2 and 8.9% to €102m in H1.

Sanofi chief executive officer Olivier Brandicourt said: “In the second quarter, we achieved significant milestones in building our new Rare Blood Disorder franchise and the successful continued execution of the global roll-out of Dupixent. As the impact from the U.S. losses of exclusivity peaked in the second quarter, the growth of our diversified businesses largely compensated for these headwinds. We look forward to entering a new growth phase led by our increasing focus on Specialty Care and our leadership positions in emerging markets and vaccines.”

The company’s reported net income declined by 26.2% to €762m in Q2 and declined 73.6% to €1.8bn in H1. Business net income increased 0.4% at CER to €1.6bn in Q2 and to €3.2bn in H1.

Its reported earnings per share (EPS) declined 25.6% to €0.61 in Q2 and reduced by 73.4% to €1.42 in H1. Business EPS increased 1.5% at CER to €1.25 in Q2 and 1.4% to €2.53 in H1.

As a result of its Q2 results, Sanofi has slightly narrowed its EPS guidance for full year 2018. Business EPS is now expected to increase 3% to 5% at CER barring unforeseen major adverse events. The currency impact on business EPS is estimated to be approximately -6%.