PARIS–French drugmaker Sanofi (SAN.FR) said net profit fell in the second quarter as it was hit by higher restructuring costs, but lifted its earnings guidance for 2017.
On Monday, the Paris-based drugmaker said net profit declined by 10% to 1.04 billion euros ($1.22 billion) from EUR1.16 billion a year earlier.
Business net income, the company’s term for adjusted income excluding the impact of acquisitions and divestments, increased 1% to EUR1.7 billion, lifted by Genzyme, Sanofi’s biotech business. That beat analysts’ expectations of EUR1.6 billion, according to a poll by data provider FactSet. Total sales rose 6% to EUR8.66 billion.
Sanofi said it now expected business earnings per share–ex…
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