Sanofi SA (ADR) (NYSE:SNY) To Be On Growth Track By Q4
Over the past 3 years, Sanofi SA (ADR) (NYSE:SNY) lost patent protection for 9 of its drugs which has definitely been a big blow for the company. But Chris Viehbacher, the company Chief Executive Officer said that he expects the company to be back on the growth-track in the Q4.
The CEO said that the company has just travelled through some of the most focused and deepest patents in the pharma industry and that they are totally focused on the Q4. They are hoping that the company moves back into a healthy position by 2014. In addition, he said that post all the generic competition that emerged for the drugs including all the rivalry for its blood thinner. Sanofi SA (ADR) (NYSE:SNY) has now cut down its full-year earnings projections. The company is at a stage wherein it cannot afford any expiry on the protection on the company’s brand-name drug and is also in efforts to bring in new and innovative drugs into the market.
Monday’s trading session
In Monday’s trading, Sanofi SA (ADR) (NYSE:SNY) rose by 0.14%. The opening price of the shares was $50.57, which climbed to an intraday high of $50.81 and dipped to a close of $50.57. Approximately 0.491 million shares were traded on Monday while an average volume of 2.54 million shares were traded over a 30 day period. The 52-week low of Sanofi SA (ADR) (NYSE:SNY) shares is $42.20 and its 52-week high is $55.94. The company has a market capitalization of $134.73 billion.
About the company
Sanofi SA (ADR) (NYSE:SNY) was previously Sanofi-Aventis. It is a global and a diversified health-care headquartered in France. It is engaged in discovering, developing and distributing therapeutic-solutions that are focused on patients’ needs. It is focused on the healthcare field with 6 growth platforms: 1) diabetes solutions, 2) human vaccines, 3) innovative drugs, 4) consumer healthcare, 5) emerging markets and 6) animal health. It has a portfolio of prescription-drugs, vaccines, consumer healthcare products and other generics products.