Sanofi (NASDAQ: SNY; EPA: SAN), the French multinational pharmaceutical company, has reported its financial results for the second quarter of 2024, demonstrating a robust year-on-year growth of 10.2% in global net sales, reaching €10.745 billion (USD 11.64 billion) in constant currency terms. This growth was driven by the company’s Pharma business, which saw a significant increase of 12.8% to €8.297 billion (USD 8.99 billion), while Vaccines experienced a dip of 4.8% to €1.142 billion (USD 1.24 billion). The newly named consumer health division, Opella, contributed to the positive financials with a 9.6% increase in sales to €1.306 billion (USD 1.41 billion).
Sanofi’s leading product, Dupixent (dupilumab), achieved a milestone, breaking through €3 billion in quarterly sales for the first time, reaching €3.303 billion (USD 3.58 billion) after a 29.2% expansion. The drug grew strongly across all regional markets, with Rest of World sales, driven by China and Japan, seeing a remarkable 60.8% expansion. During the period, Dupixent became the first targeted biologic for chronic obstructive pulmonary disorder (COPD), following approval from the EU issued in early July. Regulatory filings for COPD are also under review in the US and China.
The company’s multiple new launches, which grew at 80.4% year-on-year to €689 million, included ALTUVIIIO (Fc-VWF-XTEN fusion protein), the first Factor VIII replacement for hemophilia A patients that allows once-weekly dosing. That drug saw sales up 772.2% to €158 million. Other strong performers in the newly launched category included Pompe’s disease drug Nexviazyme (avalglucosidase alfa), chronic graft-versus-host disease drug Rezurock (belumosudil), and CD38 antibody Sarclisa (isatuximab) for multiple myeloma.
CEO Paul Hudson was pleased with the ongoing “broad-based, double-digit sales growth” seen in Q2, and underlined the performance of Sanofi’s new launches. The company’s commitment to innovation in life sciences and diagnostics is evident in its pipeline, which includes 78 projects across four main disease areas and Vaccines, including 38 potential new medicines and vaccines. The company has made significant progress in its pipeline of new medicines, including approvals for Dupixent in COPD, Kevzara in pediatric arthritis, and ALTUVIIIO in hemophilia A.
Looking ahead, Sanofi is well on track, delivering on its strategic priorities to become a development-driven, tech-powered biopharma company committed to serving patients and accelerating growth. The company’s full-year guidance for 2024 has been upgraded, with total revenues and core earnings per share (EPS) forecast to grow by a mid-teens percentage, from previously a low double-digit to low teens percentage forecast.- Flcube.com
