Sanofi SA (NASDAQ:SNY) on Friday reported third-quarter operating profit of 4.61 billion euros ($4.99 billion), an increase of 14.4% year over year and 19.9% at constant currency. I did.
The company reported third-quarter sales of 13.44 billion euros ($14.79 billion), beating the consensus of $13.97 billion.
Revenues increased 12.3% year over year, or 15.7% at constant currency, driven by strong growth in Dupixent, new pharmaceutical products, vaccines and Opera.
The French pharmaceutical company reported adjusted EPS of 2.86 euros or $1.57, an increase of 12.2% (17.6% excluding currency).
Sales of Sanofi’s blockbuster eczema drug Dupixent rose 23.8% to €3.48 billion.
Also read: FDA approves Regeneron/Sanofi blockbuster Dupixent for lung disease in smokers
New drug launches increased by 67.1% to €727 million, led by Altuviiio (hemophilia treatment), Nexviazyme (Pompe disease) and Rezurock (chronic graft-versus-host disease).
Vaccine sales increased by 25.5% to EUR 3.8 billion due to the phasing of influenza sales and additional production capacity approved by Bayfortas.
Beyfortus (RSV) sales were €645 million, driven by early deliveries in the US and rollout in several countries. In collaboration with manufacturing company AstraZeneca Plc (NASDAQ:AZN), the additional production capacity has made it possible to increase supply after a second external filling line was approved.
Opera, Sanofi’s consumer healthcare business unit, posted sales of 1.3 billion euros, an increase of 8%.
Guidance: Earlier this week, Sanofi updated its 2024 operating EPS guidance to at least low single digits at CER, supported by strong underlying performance, reflecting a new guidance range excluding Opera.
The company previously expected the company’s EPS to be stable excluding the impact of currency fluctuations.
The company reaffirmed that Dupixent will achieve sales of approximately 13 billion euros in 2024.
Sanofi expects influenza vaccine sales to decline by low single digits due to low vaccination rates. Vaccine sales in 2024 are expected to grow in the low single digits, compared to the mid-single digits previously.
Sanofi expects Bayfortas sales in the fourth quarter to be similar to the third quarter.
Price Action: SNY stock rose 2.82% during the pre-market session to $53.52 at last check on Friday.
Image by HJBC (via Shutterstock)
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