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Financial Report: Sanofi

Generic competition, Brazil issue impact results

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Sanofi

2Q Revenues: €8.0 billion (-10%)

2Q Earnings: €1.5 billion (-23%)

YTD Revenues: €16.1 billion (-8%)

YTD Earnings: €3.1 billion (-29%)

Comments: Pharmaceutical sales were €6.7 billion in the quarter, down 7%, due to generic competition, EU austerity measures, and an adjustment of €122 million related to stocking issues in Brazil. Sales lost due to generic competition on main legacy products in the U.S. and EU were €481 million, with declining sales of Eloxatin, Lovenox, Plavix and Aprovel. Diabetes revenue was up 16% to €1.6 billion driven by Lantus (+18% to €1.4 billion). Genzyme sales were up 26% to €525 million, reflecting strong performance of the Aubagio francize. Vaccines sales were flat at €760 million as 2Q12 sales benefited from a later timing of flu vaccines supply. Consumer Healthcare sales were €729 million, an increase of 2%. Sales in Emerging Markets totaled €2.7 billion, down 2%.

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