Sanofi delivers strong Q1 2019 business EPS growth of 9.4% at CER.
First-quarter sales growth driven by Specialty Care, Vaccines and strong contribution from Emerging Markets
* Net sales were EUR8,391 million, an increase of 6.2% on a reported basis, 4.2% at CER and 3.8% at CER/CS.
* Sanofi Genzyme GBU sales were up 30.8% (16.0% at CER/CS), driven by Dupixent(R) and consolidation of Bioverativ.
* Vaccines sales up 20.1%, reflecting the recovery and growth of Pentaxim(R) in China and Menactra(R) strength in Emerging Markets.
* CHC sales up 0.6%, as Emerging Markets growth more than offset lower sales in mature markets and non-core divestments.
* Primary care GBU sales were down 17.0% (-11.8% at CER/CS) impacted by lower diabetes sales and divestiture of EU generics.
* Emerging Markets sales grew strongly (up 13.6%) across all regions, primarily driven by China.
Q1 2019 business EPS growth reflected sales performance, favorable product mix and cost discipline
* Q1 2019 business net income increased 10.5% to EUR1,765 million and 9.0% at CER.
* Business EPS in the first quarter was up 9.4% at CER to EUR1.42.
* IFRS EPS was EUR0.91 (up 12.3%).
Full-year 2019 business EPS guidance confirmed
* Sanofi continues to expect 2019 business EPS(1) to grow between 3% and 5% at CER(5) barring unforeseen major adverse events. Applying the average April 2019 exchange rates, the currency impact on 2019 business EPS is estimated to be around 2%.
Key regulatory milestones achieved in R&D
* Dupixent(R) approved in the U.S. for atopic dermatitis in adolescent patients.
* FDA granted Priority Review in the U.S. for Dupixent(R) in adults with chronic rhinosinusitis with nasal polyps.
* CHMP recommended approval of Dupixent(R) in EU for severe asthma in adults and adolescents.
* Praluent(R) label extension approved by EMA to include reduction of the risk of cardiovascular events in eligible patients.
* Libtayo(R) approved in Canada for cutaneous squamous cell carcinoma.
* CHMP recommended approval in EU and U.S. FDA issued a CRL(6).regarding ZynquistaTM for type 1 diabetic adult patients.
Sanofi Chief Executive Officer, Olivier Brandicourt, commented: "I am pleased with the strong start in 2019 as we sustained our new growth phase and delivered business EPS growth of 9.4%. We executed on key launches in Specialty Care led by the impressive uptake of Dupixent(R) in atopic dermatitis and asthma and also delivered strong growth in Vaccines. At the same time, our new GBU structure enabled us to optimize our growth opportunity in China & Emerging Markets and to adapt to the pressures in Primary Care. Based on our performance in the first quarter, we remain confident in the growth outlook for our business over the rest of the year despite challenging industry dynamics."
Q1 2019 Results: http://hugin.info/152918/R/2242644/885193.pdf
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|Article Type:||Financial report|
|Date:||Apr 26, 2019|
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