Dallas, Texas 04/29/2014 (FINANCIALSTRENDS) – France head quartered drug major Sanofi SA (ADR) (NYSE:SNY) reported results from its first quarter operations today ahead of market opening. It reported a consolidated net income for the reporting quarter of $1821 million as against the $1661.92 million reported by the drug maker in 1Q13. Its earnings per share for 1Q have jumped up to an impressive $1.38 per share as against the $1.26 it had reported in 1Q13.
Expressing happiness at the firm’s operations managing to post results which were in line with its own year beginning estimates, Sanofi SA (ADR) (NYSE:SNY) Chief Executive Officer, Chairman of the Executive Committee and Global Leadership Team Christopher A. Viehbacher has been quoted to have said that, “The Group’s financial performance in the first-quarter continued the growth trajectory that emerged at the end of 2013. Our Business EPS grew 5.8% at CER which is in line with our full-year financial guidance. Importantly, our pipeline showed steady progress. We presented study results for alirocumab, dupilumab, initiated the LixiLan Phase III program and announced plans to resubmit the sBLA for Lemtrada.™”
Strong Drug Pipeline
Sanofi SA (ADR) (NYSE:SNY) also took the earnings call platform to announce the successful completion of phase three testing and the positive data it has gathered for its very promising target drug Toujeo™ (U300), which it has designed to meet the unmet global needs of a dengue vaccine.
Other 1Q Earnings Call Highlights
For the reporting quarter, Sanofi SA (ADR) (NYSE:SNY) generated sales of $13177 million which translated into a 2.7 percent dip over its 1Q13 results. The negative impact of the prevailing exchange rates amongst the international currency that the company trades in had been described as the key reason for the dip in overall sales number for the quarter.