PARIS Feb 7 Sanofi reported a 24
percent decline in fourth-quarter profit on Thursday and
predicted growth would resume in the second half of 2013 once
the impact of drug patent losses eases.
The French drugmaker said earnings in 2013 would be flat to
5 percent lower than in 2012 at constant exchange rates and that
it was on track to meet its mid-term targets.
Business net income, which excludes items such as
amortisation and legal costs, declined 24.3 percent to 1.57
billion euros ($2.1 billion) in the fourth quarter, the group
said in a statement.
Sales in the period rose 0.2 percent to 8.53 billion euros
as the impact from austerity measures in Europe and generic
competition offset favourable currency moves and growth from
rare disease unit Genzyme.
Sanofi was expected to post quarterly business net income of
1.54 billion euros on sales of 8.56 billion, according to
Thomson Reuters I/B/E/S estimates.