Sanofi raises 2024 EPS guidance after strong Q3 results
Sanofi reported a 15.7% sales increase in Q3, boosted by earlier-than-anticipated vaccine deliveries. The company also raised its full-year 2024 earnings per share guidance.
Pharmaceutical giant Sanofi has announced strong third-quarter results, exceeding expectations with a 15.7% increase in sales at constant exchange rates. The company has subsequently raised its business earnings per share (EPS) guidance for the full year 2024, citing robust business performance.
In the third quarter, Sanofi's sales reached €13.4 billion. Growth was significantly driven by its pharmaceutical and vaccine divisions. Sales of Dupixent rose by 23.8%, and the company reaffirmed its full-year sales target of approximately €13 billion for the drug. New product launches, including Altuviiio, Nexviazyme, and Rezurock, saw their combined sales grow by 67.1%. Vaccine sales increased by 25.5%, attributed to the timing of flu vaccine shipments and strong demand for Beyfortus.
The company also highlighted substantial progress in its pipeline. Four new regulatory approvals were secured across various markets, notably Dupixent for chronic obstructive pulmonary disease (COPD) in the US, China, and the EU. Additionally, four Phase 3 trials yielded positive data readouts, including for tolebrutinib in patients with secondary progressive multiple sclerosis.
Sanofi also disclosed that it has entered into exclusive negotiations with private equity firm CD&R for a controlling stake in its consumer healthcare division, Opella. This strategic move aims to sharpen Sanofi's focus on innovative medicines and vaccines.
The company anticipates continued positive momentum, projecting a rebound in business EPS for 2025.