Headline results for the third quarter:
Prescription drug sales |
€6.4 billion ($7.1 billion) |
+3.6% |
Overall revenue |
€9.5 billion ($10.6 billion) |
+1.1% |
Profit |
€1.8 billion ($2 billion) |
-22.3% |
Note: All changes are versus the prior-year period unless otherwise stated
What the company said:
"Since joining Sanofi only two months ago, I am increasingly excited about the strength of our businesses," remarked CEO Paul Hudson, who was named as Olivier Brandicourt's successor in June. "Building on this foundation, Sanofi delivered a resilient underlying performance in the third quarter with strong sales in specialty care, largely driven by the continued outstanding performance of Dupixent," Hudson added.
Other results:
Looking ahead:
Sanofi continues to expect business earnings per share to grow approximately 5% on a constant currency basis, while the currency impact is estimated to be around 3%, revised from an earlier prediction of between 1% and 2%.
Meanwhile, chief financial officer Jean-Baptiste de Chatillon suggested that the company expects more invoices to translate into sales in the fourth quarter. "We started manufacturing flu products late in the season. It is really about balance between the third and the fourth quarter," he said.
Pipeline updates:
Sanofi disclosed that Phase II studies investigating the combination of cemiplimab and isatuximab in non-small-cell lung cancer and prostate cancer were discontinued during the quarter due to efficacy considerations. The company added that early-stage development of the trigonal GLP1R/GIPR/GCGR agonist SAR441255 for diabetes and obesity was also ended.
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