the republic logo

French drugmaker Sanofi reports higher profit in 2nd quarter, lifted by Genzyme biotech unit

bug
Share/Save/Bookmark

PARIS — Drugmaker Sanofi has reported a sharp rise in profits in the second quarter as higher sales from its Cambridge, Massachusetts-based biotech unit Genzyme helped offset by cuts in the price of the company's diabetes treatment Lantus in the U.S.

Sanofi reported Tuesday net profit of 1.3 billion euros ($1.4 billion) from April to June, up from 777 million euros a year earlier.

Paris-based Sanofi, whose new CEO Olivier Brandicourt took over in April, said it's on track to hit earnings targets set out earlier this year, with flat to slightly higher earnings per share.

Genzyme's results were boosted by strong sales of its Aubagio multiple sclerosis treatment, Sanofi said.

Sales slid 3.8 percent in Sanofi's flagship diabetes division as it offered rebates on its blockbuster Lantus treatment in the U.S.

Think your friends should see this? Share it with them!

Story copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to info@ap.org and it will be forwarded to the appropriate editor or reporter.


We also have more stories about:
(click the phrases to see a list)

Category:

Follow The Republic:

All content copyright ©2015 The Republic, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.