In the fourth quarter of 2012, Sanofi generated sales of €8,526 million, an increase of 0.2% on a reported basis. Exchange rate movements had a positive effect of 1.9 percentage points primarily reflecting the appreciation of the U.S. dollar and, to a lesser extent, the appreciation of the Chinese Yuan, Mexican Peso, Australian dollar and British Pound against the Euro. At constant exchange rates, and adjusting for changes in the scope of consolidation (primarily the return of Copaxone® to Teva and the disposal of Dermik), net sales increased by 0.4%.
Net sales in 2012 reached €34,947 million, an increase of 4.7% on a reported basis. Exchange rate movements had a favorable effect of 4.2 percentage points driven by the appreciation of the U.S. dollar and, to a lesser extent, the appreciation of the Japanese Yen and Chinese Yuan against the Euro. At constant exchange rates, and adjusting for changes in the scope of consolidation (primarily the consolidation of Genzyme from the second quarter of 2011, the return of Copaxone® to Teva and the disposal of Dermik), net sales increased by 0.3%.
In the fourth quarter of 2012, sales of the Group’s growth platforms totaled €6,002 million, an increase of 11.5%, with growth exceeding 20% for Vaccines, Diabetes, “new Genzyme” and “Other Innovative Products”. The Group’s growth platforms accounted for 70.4% of total consolidated sales in the fourth quarter of 2012, up from 61.8% in the comparable quarter of 2011. In 2012, growth platforms (including “new Genzyme”) recorded sales of €23,548 million, up 9.9 % or 7.8% with Genzyme pro forma (sales of Genzyme were not consolidated in the first quarter of 2011). Growth platforms sales comprised 67.4% of total consolidated sales compared with 61.7% in 2011.
In the fourth quarter of 2012, sales for the Pharmaceuticals business were €7,004 million, a decrease of 4.8%, which reflected generic competition, EU austerity measures, the loss of sales of Copaxone® (impact of €86 million) and the disposal of Dermik (impact of €35 million). Net sales lost due to generic competition on main legacy products in the U.S. and in EU were €499 million, primarily due to declining sales of Eloxatin® and Lovenox® in the U.S. and Aprovel® in the EU.
Full-year sales for the Pharmaceuticals business reached €28,871 million, a decrease of 0.4%, which included the positive contribution from Genzyme (consolidated from April 2011). In 2012, net sales lost to generic competition on main legacy products in the U.S. and in EU were €1,345 million, mainly due to Lovenox®, Taxotere®, Eloxatin® in the U.S. and to Aprovel®, Taxotere® and Plavix® in the EU.
Commenting on the Group’s performance in 2012, Sanofi Chief Executive Officer, Christopher A. Viehbacher said: “2012 was a turning point for Sanofi with the loss of exclusivity in the U.S. for several significant legacy drugs. Despite the effect of the patent cliff, Sanofi was able to grow sales and mitigate the impact on Business EPS1. At the same time, Sanofi was able to obtain nine significant regulatory approvals and submit six new files with regulatory agencies. Although the financial results in the first half will experience a residual effect from patent expirations, we expect to resume growth in the second half of 2013. This will be driven primarily by continued strong performance from our growth platforms2 which now represent more than 70% of our sales and rose nearly 10%3 in 2012. We are on track to meet our 2012-2015 objectives for sustainable growth.”
About Sanofi
Sanofi, a global and diversified healthcare leader, discovers, develops and distributes therapeutic solutions focused on patients’ needs. Sanofi has core strengths in the field of healthcare with seven growth platforms: diabetes solutions, human vaccines, innovative drugs, consumer healthcare, emerging markets, animal health and the new Genzyme. Sanofi is listed in Paris and in New York .
