Sanofi Lifts 2021 Guidance After 2Q Sales Grew
29 Juli 2021 - 07:51AM
Dow Jones News
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 cecilia.butini@wsj.com
(END) Dow Jones Newswires
July 29, 2021 01:50 ET (05:50 GMT)
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