Sanofi Earnings Driven by New Medicine Sales, Dupixent Performance

Sanofi said robust pharmaceutical launches and increased demand for its blockbuster Dupixent drug drove higher sales and adjusted earnings for the third quarter. The French drugmaker on Friday reported net sales of 12.43 billion euros ($14.44 billion) for the third quarter, up 7% on year at constant currency. Net profit was 2.80 billion euros, down 0.5% due to losses from discontinued operations. Excluding exceptional items, business net profit was 3.55 billion euros, or 2.91 euros a share. Analysts had forecast Sanofi's sales at 12.29 billion euros and adjusted earnings per share at 2.70 euros, according to consensus estimates provided by Vara Research. Sanofi said new medicine generated sales of 1 billion euros, up 57% from the same period last year. It said sales of the anti-inflammatory treatment Dupixent--developed jointly with Regeneron--jumped 26% to 4.2 billion euros, which allowed the company to offset a 7.8% fall in vaccine sales. The group confirmed its full-year forecast of sales growth at a high-single-digit percentage at constant exchange rates. It said it still anticipates a strong result in business EPS, excluding share buybacks, expecting it to rise by a low-double-digit percentage at constant exchange rates.

Sanofi Earnings Driven by New Medicine Sales, Dupixent Performance

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