PARIS, April 27, 2018 /PRNewswire/ -- Sanofi (NYSE: SNY; EURONEXT: SAN)
Q1 2018 |
Change |
Change | |
IFRS net sales reported |
€7,898m |
-8.7% |
-0.4% |
IFRS net income reported |
€1,016m |
-82.2%(2) |
- |
IFRS EPS reported |
€0.81 |
-82.0%(2) |
- |
Business net income(1) |
€1,598m |
-10.7% |
+0.4% |
Business EPS(1) |
€1.28 |
-9.9% |
+1.4% |
Sanofi Chief Executive Officer, Olivier Brandicourt, commented:
"In the first quarter, the performance of our global operations, coupled with disciplined expense management, allowed us to manage the impact of the losses of exclusivity for Lantus® and sevelamer in the U.S. Furthermore, with the consolidation of Bioverativ and the acquisition of Ablynx(9), we have established the foundation for a global Rare Blood Disorder franchise which will further enhance our leadership in Specialty Care. Importantly, we continue to execute on our business priorities and position the Company for a new period of growth which is expected to begin in the second half of 2018."
Experience the interactive Multichannel News Release here: https://www.multivu.com/players/English/8315151-sanofi-earnings-results-q1-2018/
First-quarter 2018 reflected strong Specialty Care sales offset by U.S. Lantus® and sevelamer exclusivity losses
2018 guidance confirmed
Announcement of a €1.5bn share buyback program(8) expected to be completed in mid-2019
Sanofi strengthens leadership in Specialty Care through the addition of a Rare Blood Disorder franchise
Sustaining innovation in R&D
(1) In order to facilitate an understanding of operational performance, Sanofi comments on the business net income statement. Business net income is a non-GAAP financial measure (see Appendix 8 for definitions). The consolidated income statement for Q1 2018 is provided in Appendix 3 and a reconciliation of reported IFRS net income to business net income is set forth in Appendix 4; (2) Excluding Animal Health gain on disposal, IFRS net income was down 19.9% and IFRS EPS was down 19.8%; (3) Changes in net sales are expressed at constant exchange rates (CER) unless otherwise indicated (see Appendix 8); (4) CS: Adjusted for Bioverativ acquisition; (5) Adjusted for Bioverativ acquisition: + 11.2% at CER/CS; (6) See definition page 7; (7) 2017 business EPS was €5.52; (8) Subject to the renewal of the authorization to repurchase Sanofi's own shares at the May 2, 2018 shareholders' meeting; (9) Subject to the completion of the acquisition; (10) Acquired thrombotic thrombocytopenic purpura
R&D update
Regulatory update
Regulatory updates since February 7, 2018 include the following:
At the end of April 2018, the R&D pipeline contained 74 projects including 37 new molecular entities in clinical development. 28 projects are in Phase 3 or have been submitted to the regulatory authorities for approval.
Portfolio update
Phase 3:
Phase 2:
Alliances/Collaboration
(1) HR=0.85; CI: 0.73-0.98, nominal p=0.026; (2) HR=0.92; CI: 0.76-1.11, p=0.38 ; (3) HR=0.76, CI: 0.65-0.87; (4) HR=0.71, CI: 0.56-0.90
To access the full press release of the 2018 Q1 results, please click here.
Forward-Looking Statements
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are statements that are not historical facts. These statements include projections and estimates and their underlying assumptions, statements regarding plans, objectives, intentions and expectations with respect to future financial results, events, operations, services, product development and potential, and statements regarding future performance. Forward-looking statements are generally identified by the words "expects", "anticipates", "believes", "intends", "estimates", "plans" and similar expressions. Although Sanofi's management believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Sanofi, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include among other things, the uncertainties inherent in research and development, future clinical data and analysis, including post marketing, decisions by regulatory authorities, such as the FDA or the EMA, regarding whether and when to approve any drug, device or biological application that may be filed for any such product candidates as well as their decisions regarding labelling and other matters that could affect the availability or commercial potential of such product candidates, the absence of guarantee that the product candidates if approved will be commercially successful, the future approval and commercial success of therapeutic alternatives, Sanofi's ability to benefit from external growth opportunities, to complete related transactions, and/or obtain regulatory clearances, risks associated with intellectual property and any related pending or future litigation and the ultimate outcome of such litigation, trends in exchange rates and prevailing interest rates, volatile economic conditions, the impact of cost containment initiatives and subsequent changes thereto, the average number of shares outstanding as well as those discussed or identified in the public filings with the SEC and the AMF made by Sanofi, including those listed under "Risk Factors" and "Cautionary Statement Regarding Forward-Looking Statements" in Sanofi's annual report on Form 20-F for the year ended December 31, 2017. Other than as required by applicable law, Sanofi does not undertake any obligation to update or revise any forward-looking information or statements.
Media Relations:
Ashleigh Koss
908-981-8745
Email: Ashleigh.koss@sanofi.com
Investor Relations:
George Grofik
+33 (0)1 53 77 45 45
Email: IR@sanofi.com
SOURCE Sanofi