Fri, 29 Mar 2024 Today's Paper

French pharma giant Sanofi says profits up in 2016

By

15 February 2017 12:00 am - 0     - {{hitsCtrl.values.hits}}

A A A

AFP: French 
pharmaceuticals giant Sanofi said cost-cutting measures and the strong performance of its rare diseases business drove up profits last year.
Sanofi said in a statement that its bottom-line net profit rose by 10 percent to 4.7 billion euros (US $5.0 billion) in 2016 while revenues slipped by 0.7 percent to 33.8 billion euros.
Sanofi noted that the figures did not include the animal health division Merial, which it sold to German group Boehringer Ingelheim in exchange for the latter’s consumer health business.
Sanofi said that its Genzyme business unit, which specializes in the treatment of rare diseases, and its vaccines division Sanofi Pasteur were the main drivers of earnings growth.
But cost-cutting also propelled earnings.
“Our streamlined organization started to deliver and supported a stronger financial performance than initially anticipated,” said CEO Olivier Brandicourt.
Sanofi said it delivered “approximately 650 million euros of cost savings in 2016, which were largely reinvested to support growth initiatives.”
It expected cost savings to reach 1.3 billion euros in 2017 “and the company confirms that it remains on track to deliver at least 1.5 billion euros of cost savings by 2018.”

 


Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

  Comments - 0

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment





Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

VAT increase: SOUNDs death knell for publishers, readers

Though the Government imposed VAT (Value Added Tax) on vegetables and other e

How female change-makers are driving Sri Lanka’s energy saving platform

Saving energy has become more of a responsibility than a habit in today’s c

A dull Ramadan awaits Muslims amidst the Soaring Cost of Living

In the coming days, Muslims across the world will welcome the Holy Month of R

New wildlife underpass to curtail HEC

As of February 2024, Sri Lanka lost another 38 elephants as a result of the H