Sanofi 3Q Sales Climb; Raises 2022 Business EPS Guidance
October 28 2022 - 1:01AM
Dow Jones News
By Cecilia Butini
Sanofi SA on Friday posted higher sales for the third quarter,
though net profit declined slightly, and raised its business
earnings-per-share guidance for 2022, citing a good performance in
vaccines and the specialty care business.
The French pharma major reported net profit of 2.08 billion
euros ($2.07 billion) compared with EUR2.34 billion the year prior,
missing analysts' expectations of EUR3.67 billion. Business net
income--a closely-watched metric that strips off some one-off
items--was EUR3.61 billion in the quarter, up from EUR2.74 billion
the year prior. Business earnings per share rose 32% to EUR2.88,
the company said. Sales climbed to EUR12.48 billion from EUR10.43
billion the year prior, beating analysts' expectations of EUR12.15
billion.
Sanofi said sales growth in its pharmaceuticals business was
driven by the specialty care portfolio, which includes best-selling
eczema drug Dupixent, sales of which increased 44.5% in the
quarter.
Vaccine sales grew 23.5% in the quarter, driven by flu jabs and
a rebound in travel vaccines after the pandemic, Sanofi said.
The company raised its view on business earnings per share,
saying that it expects the metric to grow about 16% at constant
exchange rates.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
October 28, 2022 01:46 ET (05:46 GMT)
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