Press Release: Sanofi Q3: 15.7% sales growth boosted by earlier-than-anticipated vaccine sales; 2024 business EPS guidance raised due to strong business performance
25 Outubro 2024 - 2:30AM
UK Regulatory
Press Release: Sanofi Q3: 15.7% sales growth boosted by
earlier-than-anticipated vaccine sales; 2024 business EPS guidance
raised due to strong business performance
Sanofi Q3: 15.7% sales growth boosted by
earlier-than-anticipated vaccine sales; 2024 business EPS guidance
raised due to strong business performance
Paris, October 25, 2024
Q3 sales growth of 15.7% at CER and business
EPS(1) of
€2.86
- Dupixent sales
up 23.8% to €3,476 million; full-year 2024 target of ~€13 billion
confirmed
- Pharma launches
up 67.1% to €727 million, led by ALTUVIIIO, Nexviazyme and
Rezurock
- Vaccines sales
up 25.5%, boosted by phasing of flu sales, and by Beyfortus due to
approved extra capacity
- Opella up 7.9%,
driven by the Qunol acquisition
- Research and
Development expenses grew 12.7%
- Selling, general
and administrative expenses grew 6.4%, substantially below sales
growth, having a positive impact on profitability
- Business
EPS(1) of €2.86, +12.2% reported and +17.6% at CER and
IFRS EPS of €2.25, +11.9% reported
Q3 pipeline progress
- Four regulatory
approvals: Dupixent COPD (US, CN), Dupixent CRSwNP adolescents
(US), and Sarclisa NDMM, TI (US)
- Four positive
phase 3 data readouts: Dupixent BP, Dupixent CSU, tolebrutinib
nrSPMS, and Sarclisa NDMM, TE
Opella (consumer healthcare)
- On October 21,
Sanofi and CD&R entered exclusive negotiations to transfer a
controlling stake of Opella.*
2024 business
EPS(1)
guidance
- On October 21,
2024, the 2024 business EPS(1) guidance was upgraded to
growth of at least a low single-digit percentage at
CER(2) supported by the underlying strong business
performance. This reflects the new scope of guidance excluding
Opella detailed in the October 21, 2024 press release. Applying the
average October 2024 exchange rates, the currency impact on 2024
business EPS(1) is estimated to be -5.5% to -6.5%.
Paul Hudson, Chief Executive Officer:
“We reached almost 16% sales growth in the third quarter,
illustrating the underlying strength of our portfolio. Our
performance was boosted by the phasing of flu and Beyfortus, while
we saw steady growth of 67% for our launch medicines as well as
volume-driven growth by Dupixent. Dupixent is now approved as the
first-ever biologic medicine to treat COPD across the EU, China,
and the US allowing us to bring this innovative new treatment to
hundreds of thousands of patients. Our pipeline-driven
transformation continued to progress with the delivery of four new
approvals and four positive phase 3 data readouts, including for
tolebrutinib in secondary progressive multiple sclerosis, a disease
with significant unmet medical need. We entered exclusive
negotiations with CD&R on a controlling stake in Opella,
allowing Sanofi to focus on innovative medicines and vaccines.
Based on the strong business performance in the quarter, we
recently upgraded our business EPS guidance. This momentum is
already paving the way for the strong rebound we said we expected
in 2025 business EPS.”
|
Q3 2024 |
Change |
Change
at CER |
YTD 2024 |
Change |
Change
at CER |
IFRS net sales
reported |
€ 13,438 m |
+12.3% |
+15.7% |
€ 34,647 m |
+7.8% |
+11.1% |
IFRS net income
reported |
€ 2,815 m |
+11.5% |
— |
€ 5,061 m |
-15.0% |
— |
IFRS EPS reported |
€ 2.25 |
+11.9% |
— |
€ 4.05 |
-14.9% |
— |
Free cash flow(3) |
€ 3,327 m |
+79.5% |
— |
€ 3,872 m |
-22.3% |
— |
Business
operating income |
€ 4,607 m |
+14.4% |
+19.9 % |
€ 10,263 m |
+1.7% |
+8.8% |
Business net
income(1) |
€ 3,585 m |
+12.2% |
+17.5 % |
€ 7,965 m |
-1.3% |
+5.5% |
Business EPS(1) |
€ 2.86 |
+12.2% |
+17.6% |
€ 6.37 |
-1.2% |
+5.6% |
Changes in net sales are expressed at
constant exchange rates (CER) unless stated otherwise (definition
in Appendix 7). (1) In order to facilitate an understanding
of
operational performance, Sanofi comments on the business net
income statement. Business net income is a non-IFRS financial
measure (definition in Appendix 7). The
consolidated income statement for Q3 and YTD 2024 is provided
in Appendix 3 and a reconciliation of reported IFRS net income to
business net income is set forth in
Appendix 4. (2) Based on 2023 preliminary business EPS of €7.25
excluding Opella. (3) Free cash flow is a non-IFRS financial
measure (definition in Appendix 7). *The
proposed transaction is subject to finalization of definitive
agreements, completion of the appropriate social processes and
subject to customary closing conditions.
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