Sanofi lifts full-year profit guidance on Q3 performance of Dupixent, vaccines

Headline results for the third quarter:

  • Prescription drug sales: €6.4 billion ($7.5 billion), down 1.1%
  • Overall revenue: €9.5 billion ($11.1 billion; forecasts of €9.8 billion), down 0.2%
  • Profit: €2 billion ($2.3 billion), up 10.5%

Note: All changes are versus the prior-year period unless otherwise stated

What the company said:

"We achieved a strong quarter supported by solid sales from both Dupixent and vaccines, which allows us to upgrade our full-year guidance," remarked CEO Paul Hudson.

Other results:

  • Specialty care unit: €2.8 billion ($3.3 billion), up 18%
    • Dupixent: €918 million ($1.1 billion), up 61.1%, with sales in the US of €725 million ($848 million), representing growth of 67.7% on a constant exchange rate (CER) basis
    • Aubagio: €505 million ($591 million), up 2.2%, mainly driven by higher demand in Europe and a price increase in Germany
    • Eloctate: €152 million ($178 million), down 6.2%, with sales in the US and Japan hit by ongoing competitive pressure, while the latter market was also affected by a price reduction
  • Diabetes unit: €1.1 billion ($1.3 billion), down 9.1%, due to a continued decline in the average US glargine price, lower Amaryl sales in China, as well as some COVID-19 impact
    • Lantus: €657 million ($769 million), down 12.5%, primarily as a result of a continued decline in average US price, patients switching to Toujeo and biosimilar competition
    • Toujeo: €216 million ($253 million), down 0.9%, with a decline in the US more than offsetting growth in Europe and the rest of the world as a result of switches from Lantus and new patient starts
  • Praluent: €50 million ($59 million), down 18%, due to lower sales in the US
  • Vaccines division: €2.1 billion ($2.5 billion), up 7.7%, driven by record influenza vaccine sales, which grew 53.1% on a CER basis to €1.1 billion ($1.3 billion)
  • Consumer healthcare: €1 billion ($1.2 billion), down 8.3%, mainly reflecting lower in-person pharmacy traffic due to the COVID-19 pandemic, as well as last year's voluntary recall of Zantac
  • Sales in China: €655 million ($767 million), down 8.9% on a CER basis, with strong growth from Dupixent, vaccines and consumer healthcare products offset by the country's volume-based procurement programme

Looking ahead:

Sanofi now expects business earnings per share this year to grow between 7% and 8% at constant exchange rates, lifted from an earlier range of 6% to 7%.

To read more Top Story articles, click here.