Sanofi (NASDAQ:SNY) saw sales increase 6.8% in the fourth quarter to €9.608 billion ($10.55 billion). Some of the increase was due to a stronger Euro; at constant exchange rates, sales were up a more modest 4.7% year over year.
On the bottom line, Sanofi lost €10 million as there was an impairment charge associated with its hemophilia treatment Eloctate that's struggling in the U.S. due to added competition. But on an adjusted basis, which Sanofi calls its "business net income," the French pharmaceutical company made €1.684 billion, up 18.4% year over year.
The results drove shares of Sanofi up 4.7% on Thursday.
Dupixent was the biggest contributor to growth with sales more than doubling to €679 million. The drug, which Sanofi sells with Regeneron Pharmaceuticals (NASDAQ:REGN), is approved in the U.S. to treat eczema, asthma and nasal polyposis.
Sales of vaccines increased 22%, boosted by early shipments of influenza vaccine in the U.S.
Revenue from consumer healthcare was down 5.2% compared to the year-ago quarter because of the recall of heartburn medication Zantac as the Food and Drug Administration worried about the potential for unacceptable levels of N-nitrosodimethylamine (NDMA). Sanofi also divested some products in the category, which hurt the year-over-year comparison.
The primary care business unit saw sales fall 8.7% due to lower sales of diabetes products as well as its older medications, fondly referred to as "established products," which fell 9.2% and 6.3%, respectively
This year, management thinks adjusted earnings per share (business EPS) will grow about 5% at constant exchange rates. If currency exchange rates stay where they were for January, reported earnings per share will be one percentage point higher.