Sanofi reports year-on-year growth for 2016

Sanofi has announced its financial results for 2016, during which it delivered an annual net sales total of 33.82 billion euros (28.79 billion pounds).

In nominal terms, this represented a year-on-year decline of 0.7 percent, but when calculated at constant exchange rates sales improved by 1.2 percent compared to last year, with a particularly strong performance in the fourth quarter.

The company's Q4 sales came to 8.87 billion euros, up by 3.3 percent or 3.4 percent at constant exchange rates, with all global business units contributing to this rise. Sales of specialty care and vaccine products were key growth drivers throughout the year.

Key highlights of 2016 include the completion of a business swap deal with Boehringer Ingelheim that will give Sanofi into a global leadership position in consumer healthcare, while Sanofi Pasteur and Merck Sharp and Dohme also chose to end their joint vaccines business.

In 2017, the firm expects its earnings performance to remain broadly stable on a constant exchange rate basis, barring unforeseen major adverse events.

Olivier Brandicourt, chief executive officer at Sanofi, said: "Our streamlined organisation started to deliver and supported a stronger financial performance than initially anticipated."

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