Sanofi Profit Little Changed as Drugmaker Pursues Medivation
- CEO Brandicourt `concerned' patients aren't getting Praluent
- Outlook confirmed for `broadly stable' profit in 2016
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Sanofi’s first-quarter profit showed little change as a new cholesterol medicine faced hurdles in the U.S., underscoring the French drugmaker’s drive to kindle growth with a takeover of Medivation Inc.
Earnings excluding some costs were 1.72 billion euros ($1.96 billion), compared with 1.73 billion euros a year earlier, the Paris-based drugmaker said Friday in an e-mailed statement. Analysts predicted 1.69 billion euros, the average of eight estimates compiled by Bloomberg. Sales fell 1.9 percent and the stock had its biggest slide in three months.