Sanofi sticks to targets after profit drop

French pharmaceutical giant Sanofi on Friday posted a sharp drop in net profit in the second quarter, but said it was confident it would still meet its full-year target of stable earnings. Net profit dropped 11.1 percent to 1.16 billion euros ($1.29 billion) on sales of 8.14 billion euros, down 5.1 percent. "Our second-quarter financial performance was in line with expectations and reflected anticipated headwinds," Sanofi chairman Olivier Brandicourt said in a statement.