Sanofi Q2 Performance Benefits From Dupixent, Vaccines; Raises 2021 Profit Forecast

Sanofi SA SNY has raised its 2021 profit forecast after its vaccines and blockbuster eczema treatment Dupixent helped boost second-quarter results.
Q2 2021 sales grew 6.55 Y/Y to €8.7 billion (up 12.4% at CER), mainly driven by Dupixent and new oncology. Vaccines sales were up 16.2%, driven by meningitis and boosters franchise recovery, accelerating the mRNA pipeline.
Sales from Dupixent, which are sold to patients with eczema and prescribed for other conditions such as asthma, jumped 57% to €1.24 billion.
General Medicines sales increased 4.2% to €3.5 billion, supported by core assets (up 11.8%), including COVID-related demand for Lovenox.
Consumer healthcare increased 11.9% to €1.1 billion due to the growth of the Digestive Wellness category, largely offsetting low demand for cough and cold brands.
The gross margin remained unchanged at around 70%.
Business net income was up 8.1% (CER) 16.8% to €1.73 billion.
The Company said it was targeting EPS growth of around 12% at constant exchange rates this year, up from "high single-digit" percentage growth previously.
Price Action: SNY shares are trading higher by 0.73% at $52.44 premarket on the last check Thursday.

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