Sanofi Upgrades Fiscal Year Guidance as 2Q Sales Rose 16%
28 July 2022 - 4:05PM
Dow Jones News
By Dominic Chopping
Sanofi SA on Thursday upgraded its full-year guidance after
posting higher second-quarter sales, driven by best-selling eczema
drug Dupixent.
The French pharma major posted net profit of 1.18 billion euros
($1.2 billion) for the quarter, down slightly from EUR1.2 billion
the year prior. Sales rose 16% to EUR10.12 billion, from EUR8.74
billion.
Best-selling Dupixent alone grew by 43% on year to EUR1.96
billion, the company said, driving sales in Sanofi's specialty-care
business. Vaccine sales grew 8.7% while general medicines saw 6.0%
growth.
Business net income--a key profit metric that excludes some
items--rose to EUR2.17 billion, from EUR1.73 billion the year
prior, Sanofi said. Business earnings per share were EUR1.73, up
25% on the year, the company said.
Looking ahead, Sanofi said it now expects 2022 business EPS to
grow by approximately 15% at constant exchange rates, having
previously guided for low-double-digit growth. A full-year positive
currency impact of between 7.5% and 8.5% is now expected, from
between 4% and 5% previously, it added.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
July 28, 2022 01:50 ET (05:50 GMT)
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