Sanofi anticipates no growth in 2013 business EPS

Sanofi (Euronext:SAN; NYSE:SNY) reported 4Q12 and 2012 earnings and said 2013 business EPS is expected to be "flat to 5% lower" than the EUR 6.20 business EPS reached in 2012. The pharma attributed the decline in part to generic competition in the U.S., which is expected to negatively impact business net income this half by EUR 800 million ($1.1 billion). Sanofi reported 4Q12 business EPS of EUR 1.19, down 26.3% from 4Q11. Revenues for the quarter were down 1.7% to EUR 8.5 billion ($11.3 billion), including a EUR 499 million ($658.5 million) hit as a result of generic competition. Revenues for 2012 were up 0.5% to EUR 34.9 billion ($46.1 billion). All percentage changes assume constant currency.

Sanofi also said it began a biosimilar program "to complete its portfolio of insulin products," with two undisclosed projects expected to start clinical testing this quarter. The pharma said the products are not biosimilars of its own products. Additionally, Sanofi and its Genzyme Corp. unit said twice-daily eliglustat tartrate met the primary endpoint vs. bi-weekly infusions of Genzyme's Cerezyme imiglucerase in the Phase III ENCORE trial to treat Type I Gaucher's disease patients who have been stabilized on enzyme replacement therapy. The pharma did not provide a time frame on possible regulatory submissions. ...