Sanofi continued to report a soft operating performance in Q4. While the headwinds in the diabetes space are widely known, the slower growth in the MS portfolio, poor fate of Dengvaxia and some one-offs weighed on the performance. The weak guidance, although masked by the recent two acquisitions, was a clear disappointment for 2018. The acquisition of Bioverativ (reminding us of the reaction ever since Shire acquired Baxalta) has also not gone down well with the market.
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Soft quarter again
Sanofi continued to report a soft operating performance in Q4. While the headwinds in the diabetes space are widely known, the slower growth in the MS portfolio, poor fate of Dengvaxia and some one-offs weighed on the performance. The weak guidance, although masked by the recent two acquisitions, was a clear disappointment for 2018. The acquisition of Bioverativ (reminding us of the reaction ever since Shire acquired Baxalta) has also not gone down well with the market.