Sanofi (France) Profit Faces 15 Percent Hit from Cheap Drug Copies

French drugmaker Sanofi said on Wednesday that its earnings could drop by up to 15 percent this year as top-selling drugs previously protected by patents are hit by competition from cheap copies. Sanofi expects to return to growth in subsequent years, driven by emerging markets, diabetes, vaccines, animal health, its takeover of biotechnology company Genzyme and new products. "The chapter on blockbusters closes, but we are in good shape coming out of the 'patent cliff' this year," chief executive Chris Viehbacher told reporters on Wednesday.

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