By Cecilia Butini
Sanofi SA said Thursday that sales grew in the second quarter and raised its full-year guidance.
The French pharmaceutical major posted a declining net profit for the quarter compared with the same period in 2020, when the metric went up as a result of a share repurchase transaction completed with Regeneron Pharmaceuticals Inc.
Net profit came in at 1.21 billion euros ($1.43 billion) for the period, from EUR7.60 billion in the same period the year prior, on sales that grew to EUR8.74 billion from EUR8.21 billion in the same quarter of 2020.
Business net income --a key profit metric that excludes some items-- increased to EUR1.73 billion from EUR1.60 billion the year prior.
Business earnings per share were EUR1.38 in the quarter, up from EUR1.28 in 2020.
The company revised its outlook upwards, now guiding for 2021 business EPS growth of around 12% at constant exchange rates, barring unforeseen adverse events. Sanofi had previously guided for business EPS growth in the high-single digits at constant exchange rates.
Write to Cecilia Butini at firstname.lastname@example.org
(END) Dow Jones Newswires