Shares in Sanofi (NYSE:SNY) fell today after the French pharmaceutical giant missed expectations on Wall Street with its 4th quarter and full-year financial results.
The company faced particular challenges in its diabetes business, which saw its global sales plunge -14% in Q4. Revenues for Sanofi’s diabetes unit in the U.S. fell -29.5% compared to the same period last year, thanks in part to decisions made by CVS and UnitedHealthcare to exclude Sanofi’s diabetes products from its commercial formularies.
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