Despite Aubagio lift, Sanofi Q1 sales dip
While M&A fervor continues to sweep much of big pharma, Sanofi CEO Christopher Viehbacher says his company is staying above the fray, according to Reuters.
During the company's announcement of Q1 2014 earnings, Viehbacher said the company will continue to look for assets from smaller firms, rather than merge with a large drugmaker.
Overall, the company saw sales of $10.8 billion, a decrease of 2.7% from 2013's first quarter. Jefferies analyst Jeffrey Holford stated in an investor note this morning that “group sales were 2% light. Pharma [sales were] in line, whilst Animal Health missed by 4% and vaccines missed by 9%,” vs. consensus estimates.
The French drugmaker's blockbuster insulin product Lantus was also “4% light” compared to consensus estimates, according to Holford, generating $1.9 billion in overall sales for the quarter.
Sanofi's consumer health division reported $1.2 billion in sales, growing by 18%. A highlight was allergy drug Nasacort's OTC launch in February. Sanofi's Genzyme unit also had a strong quarter, with sales of $566 million, driven by MS pill Aubagio's revenue of $107 million, compared to $27 million last year.