Sanofi makes progress towards 2014 goals in Q3

Sanofi has announced its financial results for the third quarter of 2014, during which it saw solid growth in terms of sales and earnings.

The firm's sales total for the three months came to 8.78 billion euros (6.94 billion pounds), up by 5.1 percent year over year, with earnings per share rising by ten percent and net income up by 9.4 percent.

Its diabetes and vaccines businesses both saw improved performances, as did its animal health and Genzyme divisions. The firm was also able to make significant progress in bringing a number of key innovations to market.

For 2014, the company now expects its earnings per share to be between six and eight percent higher than 2013 at constant exchange rates, barring major unforeseen adverse events.

Christopher Viehbacher, chief executive officer of Sanofi, said: "We achieved solid business earnings per share growth, driven by continued strong contribution from our growth platforms, allowing us to confirm 2014 outlook."

Subsequent to the announcement of these results, its has been confirmed that Mr Viehbacher has left the company, with Serge Weinberg taking over as chief executive on an interim basis.