Sanofi's Q1 2025: Key Contradictions in Dupixent Growth, Medicare Impacts, and Tariff Concerns

Dupixent's growth and launch strategy, impact of Medicare Part D changes, Dupixent COPD ramp-up, sales growth and tariff impact, and Beyfortus sales and demand outlook are the key contradictions discussed in Sanofi's latest 2025Q1 earnings call.



Strong Financial Performance:
- Sanofi reported a 9.7% sales growth in Q1 2025, with net sales reaching €9.9 billion.
- Growth was driven by new product launches, favorable phasing in vaccines, and the performance of Dupixent.

Dupixent's Growth and Market Leadership:
- Dupixent delivered strong growth of 20% in Q1, with sales reaching €3.5 billion.
- This growth was driven by broad-based demand across approved indications and expanding market penetration, particularly in the U.S. and Europe.

Vaccines and Market Expansion:
- The vaccines business experienced double-digit growth, driven by favorable Beyfortus phasing and new country launches.
- Efforts to improve immunization rates in the U.S. and expand market reach contributed to this growth.

Innovative Pipeline and Regulatory Success:
- Sanofi obtained six approvals in Q1, including Qfitlia for hemophilia A and B, and additional approvals for Dupixent and Sarclisa.
- The regulatory success was attributed to the company's robust pipeline and commitment to addressing unmet medical needs.