Sanofi Q1 profit slips on generic competition, forex effects
)'s said on Thursday first-quarter operating income declined 14.7% as unfavourable currency effects and cheap competition to multiple sclerosis drug Aubagio outweighed rising sales of anti-inflammatory drug Dupixent.
The French drugmaker said in a statement that operating income, adjusted for one-offs, slipped 14.7% to 2.84 billion euros , a touch above the 2.79 billion euros expected on average by analysts in a poll on the company's website. The company reiterated it expects 2024 adjusted earnings per share to slip by a "low single-digit" percentage, excluding currency swings, citing higher taxes and an increase in development expenditure.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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