Sanofi Profit Growth Slowed by Spending on Research

Sanofi reported lower-than-expected profit for the second quarter as the French drugmaker spent more to develop new treatments.

Earnings per share excluding some items rose 1.9% to €1.59, the company said Thursday, lower than the €1.67 analysts estimated. The stock fell as much as 3.7% in early Paris trading, the most in two months.