Sanofi just released its Q3 earning report. Key takeaways:
1. For Q3, Lovenox US sales down 47.2%, and Lovenox global sales down 26.1% 2. Lovenox Euro589M actual sales for Q3 well below concensus estimates (Euro656M) and estimates in last 2 days by Goldman Sachs (Euro606M) and Cowen (Euro631M) 3. Sanofi overall US sales down 6.2% overall, and Sanofi overall global sales down 1.7% overall 4. Business net income down 2.2% on a CER basis
Sanofi's Lovenox franchise is now officially in deep trouble. Lovenox sales came in below even the lowest analyst expectation (Goldman Sachs). This wasn't even a full quarter of sales.