Flu vaccine yields solid growth for Sanofi Pasteur

PARIS - Sanofi, the worldwide pharmaceutical company whose Sanofi Pasteur business segment is located in Swiftwater, Pennsylvania, reported fourth quarter 2017 sales declined 2.0 percent but full year sales increased 3.6 percent. For Sanofi Pasteur, the vaccines unit, full year 2017 sales increased 8.7 percent from 2016 while fourth quarter 2017 sales increased 1.2 percent above the prior year’s quarter. Fiscal year earnings per share for Sanofi declined 0.4 percent from the previous year.

The fourth quarter and full year 2017 results for Sanofi reflect the acquisition of the former Boehringer Ingelheim Consumer Healthcare business and the disposal of the Animal Health business. The results also reflect the consolidation of European operations related to the Sanofi vaccine portfolio, following the termination of the Sanofi Pasteur MSD joint venture with Merck at the end of 2016.

Sanofi Chief Executive Officer, Olivier Brandicourt, commented: “In 2017, we continued to execute on our strategic goals with the strong launch of Dupixent®, the positive pivotal data for cemiplimab and for dupilumab in asthma. At the same time, we managed the challenges in U.S. diabetes as well as the impact from sevelamer generics and Dengvaxia®. Recently, we announced a series of strategic steps – we are obtaining the global rights to fitusiran and plan to acquire Bioverativ and Ablynx – which will establish Sanofi as a new global leader in rare blood disorders. Additionally, these actions will further strengthen our pipeline and provide us with the powerful new Nanobody® technology platform. Overall, after a period of significant reshaping since 2015, we are positioned to drive growth in 2018."

Sanofi Pasteur results

For Sanofi Pasteur, full year 2017 net sales were €5.101 billion and fourth quarter 2017 net sales were €1.385 billion.  Within the Sanofi Pasteur unit, fourth quarter influenza vaccine sales increased 28.4 percent, driven by a strong performance in the U.S., while full year sales were €1.589 billion, up 8.2 percent.  In the fourth quarter, Polio/Pertussis/Hib vaccines sales decreased 3.9 percent , largely due to an unusually high stock replenishment in 2016. But for the full year, Polio/Pertussis/Hib sales grew by 15.3 percent. Adult Booster vaccine sales in fourth quarter 2017 were €137 million, and reached €474 million for the year. Travel and other endemic vaccines sales were up 55.1 percent in the fourth quarter, reflecting improved supply of rabies and hepatitis A vaccines. Full year sales were up 19.0 percent to €493 million. Fourth quarter 2017 Menactra® sales decreased 19.6 percent due to lower sales in the U.S., reflecting the phasing effect from CDC (Centers for Disease Control) orders. Full year sales for Menactra® were up 4.6 percent to €600 million.

Sanofi restructuring

Sanofi’s strategic restructuring plan consists of four parts. First, reshape the product portfolio with the acquisition of Bioverative, for the treatment of hemophilia, cold agglutinin disease, and other blood disorders, and Ablynx, a Nanobody® technology to develop therapeutics in areas of high unmet medical needs. Second, execute launches for Dupixent®, Kevzara®, Praluent®, Soliqua®, and Dengvaxia®.  Praluent® and Soliqua® launches are progressing more slowly than anticipated, while a label update on the effectiveness of Dengvaxia® for patients who have prior exposure to dengue limits its potential.

The third strategy is to drive simplification by restructuring the alliance with Alnylam to obtain global rights to fitusiran in hemophilia, and more closely focusing the organization, which has delivered cost savings of €1.5 billion since 2015. The fourth strategy is to sustain innovation by accelerating and expanding development of cemiplimab and dupilumab, and acquiring Ablynx.

A dividend of €3.03 per share was proposed on February 6 by the Board of Directors. Sanofi projects 2018 earnings per share to grow between 2 percent and 5 percent, including the anticipated contribution from the recently announced acquisitions, barring unforeseen major adverse events.

Sanofi SA (NYSE: SNY) is a multinational pharmaceutical company headquartered in Gentilly, France. It has more than 100,00 employees in 100 countries around the globe with 81 manufacturing sites in 36 countries. Sanofi Pasteur, the vaccine division of Sanofi, is headquartered in Swiftwater, Pa.

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