Drugmaker Sanofi: Net profit rose 26 percent in 4th quarter on lower charge for drug Lemtrada

MarketsAssociated Press

Sanofi SA says its net profit soared 26.3 percent in the fourth quarter thanks to a lower charges against its Lemtrada multiple sclerosis treatment.

The world's third-largest drugmaker by sales reported net profit of 1.34 billion ($1.52 billion) in the period. Sanofi's year earlier earnings had been weighed down by a 919-million-euro charge mainly accounted for by a writedown on the value of Lemtrada.

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The Paris-based company sacked CEO Christopher Viehbacher last October, citing a lack of communication with the board.

Interim boss Serge Weinberg told reporters on a conference call that the search for Viehbacher's replacement "is in the final stage" and that a new CEO would be named in the first quarter.