Sanofi Q3 profit up 37%; warns diabetes sales to keep falling till 2018

French drug major Sanofi (Euronext: SAN) on Thursday reported a 37% jump in third-quarter 2015 profit on the back of strong performance of its biotech business, but warned of lower revenue from its diabetes unit over the next three years.

The company reported net profit of 1.63 billion euros ($1.78 billion) up against 1.19 billion euros a year earlier. Business net income, excluding the impact of acquisitions and divestments, rose 8% to 2.10 billion euros, slightly above analysts’ expectations of 2.07 billion euros. Sanofi reported total sales up 9% to 9.59 billion euros.

The company expects sales for its diabetes segment to drop every year by 4% to 8% at constant exchange rates until 2018, with this announcement leading to a 5.2% fall to 88.44 euros in Sanofi’s share price.