April 29, 2014

SANOFI: Q1 2014 Business EPS(1) up 5.8% at CER

 

SANOFI: Q1 2014 Business EPS(1) up 5.8% at CER

Paris, April 29, 2014

Q1 2014 Business EPS(1) up 5.8% at CER

  • Total Group sales(2) increased 3.5% to €7,842 million while our growth platforms(3) sales grew 7.9% to €5,776 million and accounted for 73.7% of total sales in Q1 2014.

  • First quarter business net income(1) and business EPS(1) were €1,547 million (+5.6% at CER) and €1.17 (+5.8% at CER, -3.3% on a reported basis), respectively.

  • Free Cash Flow after capital expenditures increased by 20.6% to €1,396 million.

  • The first dengue vaccine Phase III study in Asia met its primary endpoint with a 56% reduction of dengue disease cases.

  • Positive results from the Phase III ODYSSEY MONO study with alirocumab were presented at the ACC medical congress; we expect top line readouts from 9 additional Phase III studies by the end of Q3 2014.

  • Positive Phase IIa study results evaluating dupilumab in Atopic Dermatitis were presented at the AAAAI medical meeting. Top line Phase IIb data are anticipated to report in the second quarter followed by an expected Phase III initiation in Q3 2014.

  • The Phase III program for LixiLan, the Fixed-Ratio combination of Lantus®/Lyxumia®, was recently initiated.

  • Genzyme is expected to resubmit the LemtradaTM sBLA for FDA review in Q2 2014.

  • Chattem launched Nasacort® OTC nasal spray in February 2014 while Merial launched NexGardTM, our next generation flea and tick product, in Q1 2014 in the U.S.

  • Sanofi will use the equity method to account for its 20% ownership interest in Regeneron from April 4, 2014.

  • The performance of the first quarter is in line with the full year guidance announced on February 6, 2014. The continued performance of growth platforms, expenses in new product launches and the late-stage pipeline is expected to lead to 2014 business EPS(1) growth between 4% and 7% at CER, barring major unforeseen adverse events.

 
Sanofi Chief Executive Officer, Christopher A. Viehbacher commented:

“The Group’s financial performance in the first-quarter continued the growth trajectory that emerged at the end of 2013.  Our Business EPS(1) grew 5.8% at CER which is in line with our full-year financial guidance.  Importantly, our pipeline showed steady progress.  We presented study results for alirocumab, dupilumab, initiated the LixiLan Phase III program and announced plans to resubmit the sBLA for LemtradaTM. In addition, the first dengue vaccine Phase III study met its primary endpoint. During the next three quarters of 2014, we expect important development milestones for multiple high potential pipeline projects including ToujeoTM (U300), the Dengue vaccine, alirocumab, Cerdelga® and dupilumab.”

(1) See Appendix 6 for definitions of financial indicators; (2) Growth in net sales is expressed at constant exchange rates (CER) unless otherwise indicated (see Appendix 6 for a definition); (3) See page 2.