Sanofi's Q3 Earnings Surge: Vaccine Sales Drive Growth

Sanofi, a leading European pharmaceutical company, reported a strong third quarter (Q3) with earnings growth exceeding market expectations, driven primarily by robust vaccine sales. The company's quarterly sales grew by 15.7% at constant exchange rates (CER), with business earnings per share (EPS) increasing by 17.6% at CER and 12.2% reported.


Vaccines were a significant contributor to Sanofi's Q3 performance. Sales in this segment increased by 25.5%, boosted by the phasing of flu sales and the approved extra capacity of Beyfortus. Dupixent, Sanofi's flagship biologic medicine, also played a crucial role in the overall increase in vaccine sales during Q3. Dupixent's sales grew by 23.8% to €3,476 million, with the full-year 2024 target remaining at ~€13 billion.


Regulatory approvals and positive phase 3 data readouts for Dupixent and other pipeline products further enhanced Sanofi's vaccine sales. Four regulatory approvals were granted, including Dupixent COPD (US, CN) and Dupixent CRSwNP adolescents (US), while four positive phase 3 data readouts were reported, including Dupixent BP, Dupixent CSU, tolebrutinib nrSPMS, and Sarclisa NDMM, TE.

Sanofi's vaccine portfolio diversification has significantly impacted its earnings growth, particularly in the Q3 period. The company's strong performance in the vaccine market is a testament to its strategic focus on innovative medicines and vaccines. By capitalizing on the strong business performance, Sanofi recently upgraded its 2024 business EPS guidance, reflecting growth of at least a low single-digit percentage at CER.


In conclusion, Sanofi's Q3 earnings beat market expectations, driven by the company's robust vaccine sales and strategic portfolio diversification. The company's focus on innovative medicines and vaccines, coupled with its strong pipeline progress, positions Sanofi well for continued growth and success in the global pharmaceutical market.