Earnings

Sanofi confirms targets, strong demand for pain killers lifts first quarter

The logo of Sanofi is seen at the company's research and production centre in Vitry-sur-Seine, France, August 6, 2019.
Charles Platiau | Reuters

French drugmaker Sanofi confirmed its 2020 outlook on Friday after posting stronger first-quarter results led by its specialty care unit and demand for its medicines to treat pain and fever in the light of the new coronavirus outbreak.

Net income was up 16.1% at constant exchange rates in the first quarter to 2.04 billion euros ($2.20 billion) while sales rose 6.6% to 8.97 billion. 

Sanofi said around half of growth in sales and profits was attributable to the coronavirus pandemic adding it expected this effect to fade in the second quarter.