Sanofi shares suffer as sales miss estimates

French drugmaker Sanofi (Euronext: SAN) was trading 2% lower as Thursday’s trading entered its second half.

The Paris-based firm had just presented its third-quarter 2020 financial results, which included a total sales figure of 9.48 billion euros ($11.1 billion), a 0.2% decline on a reported basis that translates to a 5.7% rise at constant exchange rates (CER).

This figure was short of the 9.75 billion euros expected by analysts polled by Refinitiv, while for net income, they had estimated 2.27 billion euros, which was similar to the 2.3 billion euros that Sanofi achieved, amounting to a 10.5% rise on the same quarter of 2019.