Price competition to impact Sanofi’s diabetes drug sales

French drug maker Sanofi released its third-qtr 2014 results


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Sanofi's CEO, Mr Christopher A Viehbacher commented, "We are pleased with our performance in the third quarter. We achieved solid Business EPS growth driven by continued strong contribution from our growth platforms, allowing us to confirm 2014 outlook. Growth platforms reached over 78 percent of sales and grew 10 percent. We have recently seen a more challenging US diabetes price environment which will impact our diabetes sales throughout 2015, while growth platforms globally are expected to continue to show solid growth. At the same time, our pipeline delivered strong results, with the release of exciting Phase III data for alirocumab and our Dengue vaccine, the entry of dupilumab in Phase III as well as the FDA approval of Cerdelga and the licensing of Afrezza."

Solid sales and business EPS(1) growth at CER in the third quarter
• Group sales up 5.1% to €8,781 million
• Growth platforms increased 10.0 percent to €6,862 million, representing 78.1 percent of total sales
• Business net income grew 9.4 percent at CER to €1,935 million (+7.8 percent on a reported basis)
• Business EPS increased 10.3 percent at CER to €1.47

Steady sales increase in growth platforms
• Diabetes grew 8.3 percent to €1,799 million despite increased price competition in the US
• Vaccines sales grew 11.2 percent driven by strong performance of flu vaccine and progressive supply recovery
• Genzyme continued to deliver with sales growth of 24.6 percent
• Animal Health grew 12.7 percent due to strong sales in the US market

Significant advances in bringing new medicines to market
• Cerdelga, the only oral therapy for adult Gaucher disease type 1 patients, approved in the US
• Detailed results from four pivotal Phase III alirocumab trials presented at the ESC congress
• Final landmark Phase III efficacy study in Latin America for Dengue vaccine successfully completed
• Dupilumab, an investigational therapy for moderate-to-severe atopic dermatitis, entered Phase III
• Investigational rotavirus vaccine for Emerging Markets entered Phase III
• Global licensing agreement announced for Afrezza, a new rapid-acting inhaled insulin

Financial guidance for 2014 confirmed
• 2014 business EPS is expected to be between 6 percent to 8 percent higher than 2013 at CER, barring major unforeseen adverse events

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