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'Challenging Quarter' For Sanofi As Questions Hang Over Diabetes Franchise

 
• By Sukaina Virji

"A somewhat challenging quarter," was how Sanofi CEO Olivier Brandicourt described the second three months of 2016, but analysts say there were no surprises in the downward trajectory of Sanofi's fortunes. There was also little news on Sanofi's pursuit of Medivation.

Sanofi CEO Olivier Brandicourt
Olivier Brandicourt • Source: Sanofi

Sanofi reported a decline in net profit of 11% to €1.16bn for the second quarter of 2016 compared with a year earlier. Total sales fell 5% to €8.14bn. Sanofi's business net income - its preferred measure of net profit - declined 8.7% to €1.68bn.

Business EPS dropped 7% to €1.31

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