© Reuters. The logo of Sanofi is seen a the French drugmaker’s vaccine unit Sanofi Pasteur plant in Marcy-l’Etoile, near Lyon, France, September 30, 2023. REUTERS/Gonzalo Fuentes
(Reuters) – Sanofi (NASDAQ:)’s fourth-quarter operating income declined 5% as a weaker U.S. dollar and cheaper rivals competing against its established multiple sclerosis drug outweighed growing sales of anti-inflammatory drug Dupixent.
In a statement on Thursday, the French drugmaker reported quarterly operating income, adjusted for one-offs, slipped 5.2% to 2.58 billion euros, falling short of the 2.77 billion euros expected on average by analysts in a poll posted on the company’s website.
Sanofi reiterated that it expects 2024 adjusted earnings per share (EPS) to decline by a “low single-digit” percentage, citing higher taxes on top of an increase in development expenditures.
($1 = 0.9458 euros)