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

Red Sox Live

6

0

▲  3rd Inning 0 outs

Sanofi earns soar on lower restructuring costs

PARIS — Sanofi, the French drug maker, said Thursday that its earnings soared in the fourth quarter as lower restructuring costs offset a hefty charge related to one of its key multiple sclerosis treatments.

Net profit was $1.4 billion, up from $527.2 million a year earlier. Last year’s profit was hammered by restructuring costs.

Continue reading below

Sanofi took a $831.5 million charge to account for the Food and Drug Administration’s ruling in December that the multiple sclerosis treatment Lemtrada is not ready for US approval. Sanofi said it will miss its March target date for US approval.

Earnings by Sanofi’s preferred measure — business earnings per share at constant exchange rates — fell 9.8 percent last year. It forecast growth by this measure of 4 to 7 percent this year.

Sanofi wants to market Lemtrada as a treatment for relapsing multiple sclerosis, a disease in which the immune system attacks healthy nerves.

The drug was approved by the European Medicines Agency last year and has been approved in Canada and Australia. The FDA said that Sanofi and its Cambridge, Mass.-based Genzyme unit had not submitted sufficient evidence to show Lemtrada’s benefits. Sanofi said Genzyme is preparing an appeal to the agency.

Loading comments...
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 BostonGlobe.com
Marketing image of BostonGlobe.com
Already a subscriber?
Your city. Your stories. Your Globe.
Yours FREE for two weeks.
Enjoy free unlimited access to Globe.com for the next two weeks.
Limited time only - No credit card required!
BostonGlobe.com complimentary digital access has been provided to you, without a subscription, for free starting today and ending in 14 days. After the free trial period, your free BostonGlobe.com digital access will stop immediately unless you sign up for BostonGlobe.com digital subscription. Current print and digital subscribers are not eligible for the free trial.
Thanks & Welcome to Globe.com
You now have unlimited access for the next two weeks.
BostonGlobe.com complimentary digital access has been provided to you, without a subscription, for free starting today and ending in 14 days. After the free trial period, your free BostonGlobe.com digital access will stop immediately unless you sign up for BostonGlobe.com digital subscription. Current print and digital subscribers are not eligible for the free trial.