Sanofi : 3Q Profit Grew; Raises 2020 Business EPS Guidance

By Cecilia Butini

Sanofi SA said Thursday that net profit grew on year in the third quarter and that it has raised its business earnings per share guidance for the year.

The French pharmaceutical major posted net profit of 1.95 billion euros ($2.29 billion) for the period, up from EUR1.77 billion the year prior.

Sales fell slightly to EUR9.48 billion compared with EUR9.50 billion the year prior, but were driven by strong performance of monoclonal antibody Dupixent and demand for flu vaccines, the company said.

Business net income--a metric which Sanofi uses to indicate income without certain one-off items--came in at EUR2.30 billion, up from EUR2.28 billion in the third quarter of 2019.

The company raised its business EPS guidance. It now expects 2020 business EPS to grow between 7% and 8% at constant exchange rates, having previously guided for EPS growth between 6% and 7% at constant exchange rates.

Write to Cecilia Butini at [e-mail]

(END) Dow Jones Newswires

10-29-20 0312ET