Financial objectives

Sales growth, core operating margin: discover our financial objectives for 2017 and our 2020 outlook.


2017 financial objectives*

The Group has set the following financial targets for 2017 assuming a successful closing of the Onivyde® transaction with Merrimack by the end of the first quarter 2017, and of the Consumer Healthcare transaction with Sanofi in the second quarter of 2017:

  • Specialty Care sales growth year-on-year greater than +18.0%
  • Primary Care sales growth year-on-year greater than +4.0%
  • Core operating margin (excluding amortization of intangible assets) greater than 24% of net sales 



FY17 guidance


Specialty Care sales growth Growth >18% 
Primary Care sales growth Growth >4%
Core Operating margin >24%


2020 outlook

On May 11, 2017, the Group updated financial guidance for 2020 to reflect the contribution of the acquisitions announced in early 2017, the change of definition of Core Operating Income (to exclude the amortization of intangible assets and the gain or loss on disposal of fixed assets) and the strong performance of the Specialty Care business over the last 15 months.

  • Sales in excess of 2.5 billion euros; including Specialty Care sales growth of greater than 14% per year over the period 2016-2020 and Consumer Healthcare sales growth between 4% and 6% per year;
  • Core operating margin greater than 30% .

This guidance includes the contribution from the recent 2017 acquisitions and excludes the impact from any further business development (other than development costs associated with potential new early to mid-stage R&D assets). It also covers the impact from potential Somatuline® competitive threats


*Sales objectives are set at constant currency

Last update 23/02/2017