Sanofi (SNY, Financial) just smashed expectations in Q3 2024, reporting a 15.7% sales jump at constant exchange rates, hitting €13.4 billion. The star of the show was Dupixent, with sales skyrocketing 23.8% to €3.5 billion, while the vaccine segment saw a 25.5% surge, driven by early flu shot deliveries and the rapid rollout of Beyfortus for RSV. With multiple new regulatory wins, including fresh approvals for Dupixent, Sanofi's growth momentum shows no signs of slowing down.
CEO Paul Hudson didn't mince words, emphasizing that the company's focus on innovation and new launches, along with tight control over expenses, has paid off. Earnings per share jumped 12.2% to €2.86, as higher margins and smart R&D spending boosted profitability. Confident in its trajectory, Sanofi upgraded its 2024 outlook, now eyeing at least low single-digit growth for the full year, signaling a solid upward trend across its core businesses.
In a bold strategic shift, Sanofi is offloading a 50% stake in its Opella consumer healthcare unit to Clayton Dubilier & Rice, aiming to double down on biopharma and vaccines. This move is all about sharpening its focus on high-growth areas and pumping more resources into breakthrough treatments and next-gen therapies, setting the stage for sustained long-term gains.
