Sanofi's Share Rise

Sanofi (EPA:SASY) shares surged on Friday following better-than-expected third-quarter results bolstered by strong vaccine revenues and early sales of Beyfortus, its respiratory syncytial virus treatment.

At 3:22 AM (0722 GMT), Sanofi was trading 1.7% higher at €99.25.

> "2024 outlook raised earlier this week as strong 3Q flagged at the time of Opella consumer deal, with current cons already around the midpoint," analysts at Jefferies noted.

Sanofi’s group sales reached €13.44 billion, surpassing analysts’ consensus estimates of €12.67 billion.

The biopharmaceuticals segment was the primary growth driver, delivering €12.17 billion in revenue—well above the expected €11.37 billion.

The surge was supported by a 19% increase in vaccine sales, attributed to the success of Beyfortus and the earlier-than-anticipated shipment of flu vaccines.

Beyfortus, launched in partnership with Sobi, exceeded forecasts with €645 million in sales, far surpassing consensus estimates of €360 million reported by Sobi.

The earlier rollout of flu vaccines added further momentum, contributing to an overall 15% increase in operating income, which reached €4.61 billion.

While Sanofi’s prominent anti-inflammatory drug Dupixent, a joint venture with Regeneron (NASDAQ:REGN), met expectations with global sales of €3.48 billion, the consumer healthcare division experienced a 3% miss.

The company reported business EPS of €2.86, exceeding the consensus figure of €2.49.

Jefferies foresees potential upgrades to earnings forecasts, with 2024 guidance indicating stable-to-modest growth in business EPS.

For 2025, Sanofi reiterated expectations for a "strong rebound" in earnings, driven by pipeline advancements and geographic expansions for key products like Beyfortus.

In recent updates, the company revealed that several key clinical trials have been rescheduled.

Phase II results for amlitelimab, an experimental asthma treatment, will be delayed until the first half of 2025, while earlier readouts are anticipated for its oral psoriasis therapy and a next-generation rabies vaccine.