Net sales increased 11.1% on a reported basis and 8.6% at CER reflecting the acquisition of Boehringer Ingelheim’s CHC business and full consolidation of Sanofi’s European vaccine operations. At constant structure and CER, net sales were up 3.5%. Q1 2017 sales growth supported by Specialty Care, Vaccines and Emerging Markets.
Sanofi Genzyme (Specialty Care) GBU sales increased 15.5% at CER driven by Multiple Sclerosis products.
First-quarter 2017 accounts reflect the acquisition of the former Boehringer Ingelheim Consumer Healthcare (CHC) business and the disposal of the Animal Health business. The first quarter 2017 income statement also reflects the consolidation of European operations related to Sanofi vaccine portfolio, following the termination of the Sanofi Pasteur MSD joint venture (SPMSD JV) with Merck at the end of December 2016.
“We have started the year with robust growth driven by Specialty Care and Vaccines as well as good performance in Emerging Markets, Sanofi Chief Executive Officer, Olivier Brandicourt said. “Our top line in the first quarter also benefited from the integration of the Boehringer Ingelheim CHC and European vaccine businesses.”
First quarter 2017 sales growth supported by Specialty Care, Vaccines and Emerging Markets. Diabetes and Cardiovascular GBU sales were down 7.7% at CER; Global Diabetes franchise sales decreased 6.0%.
Sanofi Pasteur GBU grew 13.2% at CER and constant structure due to the strong performance of pediatric combinations.
In March, the FDA approved Dupixent (dupilumab), the first and only biologic medicine approved for the treatment of adults with moderate-to-severe atopic dermatitis (AD) whose disease is not adequately controlled with topical prescription therapies, or when those therapies are not advisable.
In April, the FDA approved a new dosing regimen for Praluent of 300 mg administered subcutaneously once monthly. Also in April the European Medicine Agency's (EMA) Committee for Medicinal Products for Human Use (CHMP) granted a positive opinion for the marketing authorization of Kevzara (sarilumab), recommending its approval for use in adult patients with moderately to severely active rheumatoid arthritis.
Sanofi expects 2017 Business EPS to be stable to -3% at CER, barring unforeseen major adverse events, consistent with its previously announced Strategic Roadmap guidance for the 2016-17 period. Applying the average March 2017 exchange rates to the rest of the year, the currency impact on 2017 Business EPS is estimated to be 3% to 4%.