On Friday, Sanofi SA SNY reported a third-quarter business operating income of 4.61 billion euros ($4.99 billion), up 14.4% year-over-year and 19.9% in constant currency.
The company reported third-quarter sales of 13.44 billion euros or $14.79 billion, beating the consensus of $13.97 billion.
Sales increased 12.3% year over year and 15.7% on constant currency, led by solid growth from Dupixent, Pharma launches, vaccines, and Opella.
The French drugmaker reported adjusted EPS of 2.86 euros or $1.57, up 12.2% (+17.6% on constant currency).
Sales of Dupixent, Sanofi’s blockbuster eczema drug, rose 23.8% to 3.48 billion euros.
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New pharma launches increased 67.1% to 727 million euros, led by Altuviiio (hemophilia drug), Nexviazyme (Pompe disease), and Rezurock (chronic graft-versus-host disease).
Vaccine sales were up 25.5% to 3.8 billion euros, boosted by the phasing of flu sales and by Beyfortus due to approved extra capacity.
Beyfortus (RSV) sales were 645 million euros, driven by early deliveries in the U.S. and rollout in several countries. In collaboration with AstraZeneca Plc AZN, which is responsible for manufacturing, additional capacity enabled increased supply after a second external filling line was licensed.
Opella, Sanofi’s consumer healthcare business unit, generated sales of 1.3 billion euros, up 8%.
Guidance: Earlier this week, Sanofi updated its 2024 business EPS guidance to at least a low single-digit percentage at CER supported by the underlying strong business performance, reflecting the new scope of guidance excluding the Opella.
Earlier the company expected business EPS to be stable at constant currency.
The company reaffirms that Dupixent will deliver around 13 billion euros in 2024 sales.
Sanofi expects a low single-digit decline in flu shot sales due to the soft vaccination rate. 2024 vaccine sales are expected to grow high single-digit compared to the earlier mid-single-digit range.
Sanofi forecasts Beyfortus sales for the fourth quarter to be similar to the third quarter.
Price Action: SNY stock is up 2.82% at $53.52 during the premarket session at the last check on Friday.
Image by HJBC via Shutterstock
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