Sanofi Sees Profit Gain, Cautious Forecast Disappoints

Sanofi forecast its first increase in annual profit in four years, helped by two multiple sclerosis drugs and a chewable flea repellent for pets. Analysts expected a bigger gain and the stock slumped.

Earnings per share excluding some costs will advance 4 percent to 7 percent at constant currencies, Paris-based Sanofi said in a statement today. Analysts were predicting an 8.8 percent gain, based on the average of 20 estimates compiled by Bloomberg.