France-based pharmaceutical giant Sanofi (NASDAQ: SNY) has reported its financial results for the first quarter of 2024, with sales increasing by 6.7% year-on-year (YOY) in constant exchange rate terms to €10.46 billion (USD 11.23 billion). The biopharma segment experienced growth of 6.3%, with pharmaceutical sales rising by 6.4% to €7.76 billion (USD 8.33 billion) and vaccines seeing a 5.6% increase to €1.18 billion (USD 1.27 billion). The consumer healthcare unit also performed well, with a 9% increase in sales reaching €1.53 billion (USD 1.64 billion).
Key growth drivers for the quarter included the anti-inflammatory disease drug Dupixent (dupilumab), which saw sales surge by 24.9% to €2.84 billion (USD 3.04 billion). The Rest of World sales, led by the China market, were the fastest-growing segment at +67.5% YOY.
New product launches also contributed significantly to the growth, with a 90.5% YOY expansion to €606 million (USD 650.4 million), driven by Nexviazyme (avalglucosidase alfa) for late-onset Pompe disease and ALTUVIIIO [antihemophilic factor (recombinant), Fc-VWF-XTEN fusion protein] for hemophilia.
In the China market, sales were up 6.2%, propelled by Dupixent, blood thinner Plavix (clopidogrel), and diabetes drug Toujeo (insulin glargine). Toujeo’s China sales have now exceeded those of Sanofi’s first-generation insulin product Lantus as patients switched products. Cholesterol-lowering Praluent (alirocumab) and thymoglobulin also contributed to the growth. However, global sales of deep-vein thrombosis prophylactic Lovenox (enoxaparin) declined by -13% due to the drug’s inclusion in China’s volume-based procurement program.
Sanofi’s CEO, Paul Hudson, described the results as an “excellent” start to the year. The company is also awaiting potential milestone regulatory decisions for Dupixent as a treatment for chronic obstructive pulmonary disorder (COPD). The US FDA PDUFA action date for this decision is set for June 27, 2024, with filings under review in all major markets, including China.- Flcube.com
