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PARIS — Sanofi, the French drug maker, said its earnings soared in the fourth quarter as lower restructuring costs offset a hefty charge related to one of its key multiple sclerosis treatments.
Net profit was $1.4 billion, up from $527.2 million a year earlier. Last year’s profit was hammered by restructuring costs.
Sanofi took a $831.5 million charge to account for the Food and Drug Administration’s December ruling that the multiple sclerosis treatment Lemtrada is not ready for US approval. Sanofi said it will miss its March target date for US approval.
Earnings by Sanofi’s preferred measure — business earnings per share at constant exchange rates — fell 9.8 percent last year. It forecast growth by this measure of 4 to 7 percent this year.