Drugmaker Sanofi's Strong Dupixent And Beyfortus Vaccine Sales Propel Q1 Earnings
Portfolio Pulse from Vandana Singh
Sanofi SA reported a Q1 operating income of 2.8 billion euros, a 14.7% decrease year-over-year, but beat EPS estimates with $0.97. Sales were $11.36 billion, exceeding expectations, driven by strong Dupixent and Beyfortus vaccine sales, despite challenges from generic competition and lower Lantus sales. R&D expenses rose, reflecting investment in vaccines and pharma. Sanofi expects a low single-digit business EPS decline in 2024 but predicts strong sales for Dupixent and mid-single-digit growth in vaccine sales. SNY shares rose 5.40% to $49.13.
April 25, 2024 | 1:47 pm
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Sanofi SA reported better-than-expected Q1 earnings, driven by strong sales of Dupixent and Beyfortus vaccines, despite a year-over-year decline in operating income. The company's shares rose 5.40% to $49.13.
Sanofi's Q1 performance, particularly the strong sales of Dupixent and Beyfortus, exceeded market expectations, positively impacting investor sentiment and leading to a 5.40% increase in share price. The company's strategic focus on R&D and future sales growth projections for these products further support a positive outlook, despite the overall decline in operating income.
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