French multinational pharmaceuticals company Sanofi SA (EPA: SAN) booked strong sales performance during the third quarter of FY19, but was marred by drop offs in some of its fundamentals.
Regarding its sales performance, Sanofi posted sales of €9.5 billion, up 1.1%. Its notable highlights included; a 19.5% jump in sales from Sanofi Genzyme, driven by the ‘strong’ uptake of its Dupixent product; emerging markets sales growth of 9.7% and CHC sales growth of 0.4%.
However, its sales were somewhat weighed down by a 9.8% fall in sales from its Vaccine offerings, and Primary Care sales fell 12.7%.
The Company’s business income and EPS were both up by 4.3% apiece, though this was countered by its IFRS reported net income and EPS down by 22.3% and 18.6% to €1.766 billion and €1.49 respectively.
Giving insight on the Company’s third quarter update, CEO Paul Hudson said,
“Since joining Sanofi only two months ago, I am increasingly excited about the strength of our businesses, our ability to develop transformative medicines and the diverse talent of our teams across the organisation. Building on this foundation, Sanofi delivered a resilient underlying performance in the third quarter with strong sales in Specialty Care, largely driven by the continued outstanding performance of Dupixent. I am encouraged by the organisation’s early achievements in our efficiency initiatives, which will allow us to further drive innovation in our business. I’m looking forward to discussing Sanofi‘s strategic priorities at our Capital Markets Day in Cambridge, MA on December 10.”
Following the update, the Company’s shares are down 0.082% or 0.070p to 84.91p per share 31/10/19 11:52 CET. The Group’s dividend yield stands at 3.61%, their market cap is €106.47 billion.