In the second quarter of 2012, Sanofi generated net sales of €8,870 million, up 6.2% on a reported basis. Exchange rate movements had a positive effect of 5.8 percentage points reflecting 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 return of Copaxone® to Teva and the disposal of Dermik), net sales increased by 2.5%.
Net sales in the first half of 2012 reached €17,381 million, an increase of 7.8% 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, Japanese Yen and Chinese Yuan against the Euro. At constant exchange rates, and after taking into account changes in structure (primarily the consolidation of Genzyme from the second quarter of 2011), net sales increased by 1.0%.
Sales for the Pharmaceuticals business were €7,511 million in the second quarter of 2012, a decrease of 0.4%. The performance of growth platforms broadly offset the loss of sales of Copaxone® (impact of €119 million), disposal of Dermik (impact of €29 million), EU austerity measures and generic competition (resulting in €163 million impact, mainly to Lovenox®, Xatral® and Taxotere® in the U.S.; Taxotere®, Plavix® and Aprovel® in the EU). First-half 2012 sales for the Pharmaceuticals business were €14,827 million, an increase of 4.0%, which reflects the positive contribution from Genzyme (consolidated from April 2011).
Commenting on the Group’s performance in Q2 2012, Sanofi Chief Executive Officer, Christopher A. Viehbacher said, “This quarter, we faced the anticipated loss of exclusivity of Plavix® and Avapro® in the U.S. The strategy initiated at the end of 2008 focusing on the development of our growth platforms, coupled with continuous tight cost control and value-creating acquisitions allowed Sanofi to limit the impact on business EPS1. In addition, we made progress in advancing our pipeline with the submission of LemtradaTM (alemtuzumab)3 to the U.S. and EU regulatory agencies as well as the recent initiation of a comprehensive Phase III program for an Anti-PCSK-9 monoclonal antibody.”
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.