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The Canadian Press - ONLINE EDITION
Drugmaker Sanofi reports quarterly earnings up, warns of patent loss impact on 2012 profit
PARIS - Drugmaker Sanofi SA says its earnings rose in the fourth quarter thanks to its acquisition of U.S. biotechnology firm Genzyme as well as double-digit growth in its consumer healthcare, diabetes and emerging markets businesses.
The French maker of Lantus diabetes treatment warns that loss of patent protection on aging blockbusters like its Plavix blood thinner would hammer profits in 2012, but the company maintained its medium term forecast for a return to growth by 2015.
Paris-based Sanofi reported Wednesday a net profit of €1.49 billion ($1.95 billion) in the fourth quarter, up from €491 million in the same quarter in 2010 when earnings were held back by higher restructuring costs.
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