Sanofi Achieves 15.7% Revenue Growth in Q3, Boosts Earnings Forecast

In Q3 2024, Sanofi (SNY) experienced a 15.7% sales surge, primarily due to strong performance in vaccines and pharmaceuticals, notably Dupixent's 23.8% growth. The company raised its 2024 EPS guidance following a 12.2% increase in its business EPS. This positive outlook is driven by regulatory approvals and promising phase 3 data.

In the third quarter of 2024, Sanofi (SNY) experienced a remarkable 15.7% sales surge, marking a significant milestone in the company's growth journey [1]. This impressive growth was primarily driven by the strong performance of the company's vaccines and pharmaceuticals segments.

One of the key contributors to Sanofi's sales growth was Dupixent, a medication used to treat various inflammatory conditions. Dupixent sales soared by an impressive 23.8% to €3,476 million, accounting for a substantial portion of the company's overall revenue growth [1]. The success of Dupixent was further bolstered by its recent regulatory approvals in the US, China, and the EU for the treatment of COPD [1].

Sanofi's pharmaceuticals segment also performed exceptionally well, with sales increasing by 67.1% to €727 million. This growth was primarily driven by the launch of ALTUVIIIO, Nexviazyme, and Rezurock, which saw strong market demand [1].

Another significant contributor to Sanofi's growth was the company's vaccines segment, which experienced a 25.5% increase in sales. This growth was primarily due to the phasing of flu sales and the approval of extra capacity for Beyfortus, a meningococcal B vaccine [1].

Sanofi's financial performance was further strengthened by a 12.2% increase in its business EPS to €2.86 [1]. This growth was driven by the company's strong business performance, which outpaced its reported and IFRS EPS growth of 11.9% and 17.6%, respectively [1].

The company's positive outlook is further supported by its pipeline, which includes four regulatory approvals and four positive phase 3 data readouts. For instance, Dupixent received approval for the treatment of COPD and CRSwNP in adolescents, while Sarclisa received approval for the treatment of NDMM [1]. Additionally, tolebrutinib received positive phase 3 data for the treatment of secondary progressive multiple sclerosis, a disease with significant unmet medical need [1].

In conclusion, Sanofi's impressive sales growth in Q3 2024 was driven by the strong performance of its vaccines, pharmaceuticals, and regulatory approvals. With a robust pipeline and promising financial performance, Sanofi is well-positioned for continued growth and success in the future.

[1] Sanofi. (2024, October 25). Sanofi Q3: 15.7% sales growth boosted by earlier-than-anticipated vaccine sales; 2024 business EPS guidance raised due to strong business performance. https://www.sanofi.com/en/media-room/press-releases/2024/2024-10-25-05-30-00-2969234