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Sanofi: Sales Growth of 6.9% Thanks to Genzyme Acquisition and Performance of Growth Platforms
Date:7/28/2011

PARIS, July 28, 2011 /PRNewswire/ --

(Logo: http://photos.prnewswire.com/prnh/20110616/NY20158LOGO)Q2 2011 Change on a

Reported

basis

Change at

Constant

exchange rates(1)

H1 2011Change on a

Reported

basis

Change at

constant

exchange ratesNet sales

euro 8,349m+0.5%

+6.9%

euro 16,128m-0.5%

+1.0%Business net income(1)

euro 2,150m-13.2%

-7.0%

euro 4,320m-11.9%

-11.5%Business EPS(1)

euro 1.64-13.7%-7.4%euro 3.30-12.2%-11.7%In order to facilitate an understanding of our operational performance, we comment on our business net income statement. Business net income(1) is a non-GAAP financial measure. The consolidated income statement for H1 2011 is provided in Appendix 7. A reconciliation of business net income to consolidated net income is provided in Appendix 6. Consolidated net income in H1 2011 was euro 2,224 million, compared to euro 3,421 million in H1 2010. Consolidated earnings per share in H1 2011 was euro 1.70 versus euro 2.62 in H1 2010.

Commenting on the Group's performance in Q2 2011, Sanofi Chief Executive Officer, Christopher A. Viehbacher said, "As expected, the second quarter is the most challenging this year, given the level of generic competition. Against this, growth platforms(2) continue to perform well and strong progress has been achieved in the integration of Genzyme and Merial."

Q2 2011 Performance

  • Total sales(3) grew 6.9%(4) to euro 8,349 million. Excluding Genzyme, sales were down 4.0% reflecting euro 778 million of sales lost due to generic competition vs. Q2 2010.
  • Growth platforms grew by 9.5% and including Genzyme accounted for 65.2% of total sales.
  • Genzyme sales were euro 796 million, up 16.0%5.
  • Diabetes sales grew 12.4% driven by a strong performance of Lantus® (+14.5%) and Apidra® (+29.5%)
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  • SOURCE Sanofi
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