Sanofi, the French pharmaceutical company, has announced that Francois-Xavier Roger, who previously served as CFO at Nestle for over eight years, will be taking on the role of chief financial officer. This comes as Jean-Baptiste Chasseloup de Chatillon steps down from his position. The appointment will officially take effect from April 1.
Despite strong sales of its popular drug Dupixent, Sanofi reported a net loss of 555 million euros ($600.5 million) for the fourth quarter, compared to a profit of EUR3.11 billion in the same period of 2022. The company attributes this loss to higher costs and exceptional items impacting profitability.
Sanofi’s preferred metric, business operating profit, fell by 5.2% to EUR2.58 billion. However, net sales saw a modest increase of 1.8%, reaching EUR10.92 billion. Adjusted for constant currency, sales went up by 9.3%, driven by the success of Dupixent in the specialty-care unit and continued growth in vaccines.
Analysts had initially estimated a business operating profit of EUR2.77 billion on sales of EUR11.04 billion, according to information provided by the company.
Sanofi has reiterated its outlook for 2024.
TechBerry
Happy Galaxy
Forex Cyborg
Forex Fury
FXgoodway