April 25 (Reuters) - Sanofi's said on Thursday

first-quarter operating income declined 14.7% as unfavourable

currency effects and cheap competition to multiple sclerosis

drug Aubagio outweighed rising sales of anti-inflammatory drug

Dupixent.

The French drugmaker said in a statement that operating

income, adjusted for one-offs, slipped 14.7% to 2.84 billion

euros ($3.04 billion), a touch above the 2.79 billion euros

expected on average by analysts in a poll on the company's

website.

The company reiterated it expects 2024 adjusted earnings per

share (EPS) to slip by a "low single-digit" percentage,

excluding currency swings, citing higher taxes and an increase

in development expenditure.

Currency changes would drag 2024 earnings lower by between

5.5% and 6.5% at current rates, it added.

($1 = 0.9338 euros)