This undated product image provided by Dr. Pepper shows one of the company's new drinks slated to come out in January 2013. The U.S's No. 3 soft drink company plans to roll out 10-calorie versions of five of its biggest soda brands: 7-Up, Sunkist, Canada Dry, RC Cola and A&W Root Beer. The drinks are an extension of Dr Pepper Ten, which was launched last year as a better-tasting alternative for men who don't like the image or taste of diet soda. (AP Photo/Dr. Pepper)
Sanofi earns slump in 4th quarter
Published: 07:52:24 AM, Thu 07 February 2013 UTC
PARIS (AP) — French drug maker Sanofi says its net profit was more than halved in the fourth quarter from a year earlier as mounting restructuring costs and patent losses on key drugs combined to hammer earnings.
Sanofi said Thursday that its net profit was €438 million ($593 million) in the October-December quarter, down from €1.5 billion a year earlier. Sales were flat at €8.5 billion in the quarter. Restructuring costs rose over €100 million to €834 million.
The company blamed the loss of U.S. patent protection on key drugs Plavix and Avapro cost it €1.3 billion last year.
Sanofi warned its core earnings per share could fall up to 5 percent this year, after a 12.8 percent drop in 2012.
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