Sanofi lifts profit outlook on strong Dupixent sales
Sanofi SA (EPA:SASY) surpassed market expectations in its third-quarter earnings report on Friday, primarily driven by the strong performance of its eczema drug Dupixent. The French pharmaceutical company announced a 22% year-on-year increase in business earnings per share, reaching 3.55 euros, significantly surpassing the estimated 2.79 euros.
Net sales climbed 16.2% to 14.44 billion euros ($16.15 billion), with Dupixent sales surging nearly 35% to 5.7 billion euros, outpacing the consensus projection of around 5 billion euros. Sales of new pharmaceutical launches, including ALTUVIIIO, Ayvakit, and Rezurock, grew by 31.4% to 1.4 billion euros, helping to offset a 6.6% decline in vaccine sales to 3.2 billion euros.
Dupixent has become a pivotal earnings driver for Sanofi since its introduction in 2017, with the treatment expanding its applications to encompass asthma and other lung conditions. In response to this reliance on Dupixent, the company raised its annual guidance, anticipating sales growth in the low teens percentage and EPS growth in the mid-teens percentage at constant exchange rates.
CEO Belén Garijo emphasized the company's focus on navigating the post-Dupixent era and protecting earnings through the drug's loss of exclusivity.
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