You can now read 5 articles in a month for free on Read as much as you want anywhere and anytime for just 99¢.

Sanofi earning slump in 4th quarter

PARIS — The French drug maker Sanofi said its net profit was more than halved in the fourth quarter from a year earlier as mounting restructuring costs and patent losses on key drugs hammered earnings.

Sanofi, the parent of Genzyme Corp., said net profit was $593 million in the October-December quarter. Sales were flat at $11.39 billion. Restructuring costs rose over $133.8 million to $1.1 billion.

Continue reading below

The company blamed the loss of US patent protection on two key drugs, Plavix and Avapro, and warned its core earnings per share could fall as much as 5 percent this year. They fell 12.8 percent in 2012.

Loading comments...
Want each day's news headlines delivered fresh to your
inbox every morning? Just connect with us
in one of the following ways:
Please enter a valid email will never post anything without asking.
Privacy Policy
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of
Marketing image of