Sanofi fourth-quarter in line with forecasts; collects damages

French drug major Sanofi (Euronext: SAN) this morning reported 8.8% growth in fourth-quarter 2011 sales to 8.51 billion euros ($11.16 billion), in-line with consensus forecasts of the same amount, driven by Pharmaceuticals business revenues of 7.22 billion euros (+10.5%), Diabetes business of 1.24 billion euros (+12.5%), US biotech subsidiary Genzyme sales of 831 million euros (+0.8%), Consumer Health Care sales of 645 million euros (+15.4%), generics sales of 488 million euros (+21.0%), and Animal Health business to 470 million euros (+10.0%), offset by 8.1% decline in Sanofi Pasteur sales to 818 million euros.

Business operating income for the quarter increased 11.3% to 2.83 billion euros. Net income attributable to non-controlling interests was 57 million euros (+3.6%); net financial expenses were 113 million euros. Business net income was 2.08 billion euros, up 11.7% at constant exchange rates or 13.0% on a reported basis. Business earnings per share were 1.56 euros (vs consensus 1.56 euros), up 9.2% at CER, or up 10.6% on a reported basis.

For the full-year 20122, Sanofi posted net sales of 33.39 billion euros, up 3.2% on a reported basis and 5.3% higher at CER, resulting in business net income of 8.79 billion euros (-4.6% and -2.7%, respectively) and business EPS of 6.65 euros (-5.8% and -3.8%).