PARIS (dpa-AFX) - Shares of Sanofi SA were gaining around 2 percent in French trade and around 3 percent in the pre-market activity on Nasdaq after the French drug major on Friday reported a profit in its fourth quarter, compared to prior year's loss. For fiscal 2021, the company expects business earnings per share to grow in high single digit at constant exchange rates.
Sanofi Chief Executive Officer, Paul Hudson, said, 'We continue to work in parallel on our two COVID-19 vaccine candidates, with clinical trials starting in the coming weeks. .. The continuous uptake and potential of Dupixent for patients, our contribution to population health with Vaccines, reinforced with the resiliency of our General Medicines and Consumer Healthcare portfolios are all solid foundations to build upon in 2021...'
For the fourth quarter, consolidated net income attributable to equity holders, on IFRS basis, was 1.08 billion euros, compared to a loss of 10 million euros in the previous year. Profit per share was 0.86 euros, compared to a loss of 0.01 euros.
Business net income was 1.53 billion euros, compared to 1.53 billion euros last year. Business earnings per share was stable at 1.22 euros on a reported basis and increased 9.8 percent at constant exchange rates.
Business operating income was 2.05 billion euros, up 0.3 on a reported basis. Business operating income margin improved to 21.9 percent from 21.3 percent in the previous year.
Fourth-quarter net sales were 9.38 billion euros, down 2.4 percent from last year's 9.61 billion euros. At constant exchange rates, sales were up 4.2 percent.
Pharmaceutical sales were up 2.4 percent to 6.29 billion euros, with double-digit growth of the Specialty Care portfolio mainly driven by the strong performance of Dupixent. The strong sales largely offset lower sales in General Medicines partially due to pricing pressures on the Diabetes franchise in the U.S.
In France, Sanofi shares were trading at 80.44 euros, up 2.04 percent. In pre-market activity on Nasdaq, the shares were trading at $48.32, up 2.6 percent.
Copyright RTT News/dpa-AFX
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