Sanofi sales hit by currencies and slowing diabetes revenues
French pharma major Sanofi (Euonext: SAN) released second-quarter 2018 financial results this morning, showing that sales were 8.176 billion euros ($9.57 billion), down 5.7% on a reported basis. Exchange rate movements had a negative effect of 5.8 percentagepoints mainly driven by the movement of the US dollar. At constant exchange rates company sales increased 0.1%.
Second-quarter business net income was up 0.4% at constant exchange rates at 1.558 billion euros, with business earnings per share (EPS) rising 1.5% to 1.25 euros.
Analysts polled by Reuters in partnership with Inquiry Financial had on average been expecting a business net income of 1.536 billion euros on revenue of 8.279 billion.
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