Press Release: Sanofi Delivers Solid Sales and Business EPS Growth at CER Amidst Successful Product Launches and Advancements in Immunology Pipeline

Sanofi Delivers Solid Sales and Business EPS Growth at CER Amidst Successful Product Launches and Advancements in Immunology Pipeline

Paris, February 1, 2024

Q4 2023 sales growth of 9.3% at CER and business EPS⁽¹⁾ increase of 8.2% at CER

• Specialty Care grew 13.7% driven by Dupixent and ALTUVIIIO launch performance, more than offsetting competition from generics of Aubagio in all key markets
• Vaccines sales increased strongly (up 21.1%) mainly as a result of the unprecedented uptake of Beyfortus, reaching €410 million in the second quarter of its launch
• General Medicines decline moderated (down 2.4%), reflecting accelerated growth of core assets (up 6.3%), offset by lower sales of Lantus and non-core asset divestment
• CHC rose 8.5% due to Digestive Wellness and Physical and Mental Wellness which benefited from Qunol acquisition

Full-year 2023 delivered 5.3% sales growth and 5.4% business EPS growth at CER

• Sales reached €43,070 million driven by Dupixent (€10,715 million, +34.0%, adding €2.8bn at CER), Vaccines (up 8.3%) which benefited from strong launch performance of Beyfortus (€547 millions) and CHC (+6.3%)
• Business EPS⁽¹⁾ of €8.11 down 1.8% on a reported basis and up 5.4% at CER
• IFRS EPS of €4.31 (down 35.6%) mainly reflecting an impairment loss of technology assets resulting from de-prioritization of R&D programs and a charge related to the liability remeasurement of expected future royalty payments on U.S. Beyfortus sales, which mainly occurred in Q4
• Board held on January 31, proposes annual dividend of €3.76 an increase of 5.6%

R&D transformation and Key milestones in Q4

• Strong pipeline including record 12 blockbuster opportunities under clinical evaluation detailed at recent R&D Day
• Dupixent submitted for COPD (Chronic Obstructive Pulmonary Disease) in the U.S., EU, and China
• Sarclisa delivered positive phase 3 results in 1L transplant-ineligible Multiple Myeloma (IMROZ)
  
  

Progress on Corporate Social Responsibility strategy in Q4

• Sanofi Global Health Unit announced three new investments through its Impact Fund to support healthcare start-ups in Sub-Saharan Africa
• Sanofi at COP28: supporting the decarbonization of healthcare systems

Full-year 2024 business EPS guidance

• Sanofi expects 2024 business EPS⁽¹⁾ to remain roughly stable excluding the impact of an expected effective tax rate increase to 21% and decrease low single-digit⁽²⁾ at CER including the higher expected tax rate, barring unforeseen major adverse events. Applying average January 2024 exchange rates, the currency impact on 2024 business EPS is estimated between -3.5% to -4.5%.
  
  

Paul Hudson, Sanofi Chief Executive Officer, commented:

“2023 marked a critical year on our journey to become a development-driven, tech-powered biopharma company committed to serving patients and accelerating growth. We have delivered another year of strong underlying performance of our core drivers in Specialty Care and Vaccines supported by the outstanding launch execution of Beyfortus, Altuviiio and Tzield. With scientific news flow at an all-time high, pipeline advances and 12 potential blockbusters in late-stage development including amlitelimab, frexalimab and tolebrutinib, our R&D transformation has reached an inflection point on the road to industry leadership in immunology. Looking forward, we remain committed to investing in R&D to fully unlock the value of our pipeline, powered by AI at scale, and continue to focus on our expected launch opportunities such as Dupixent in COPD. At the same time, we are taking steps to become a pure-play biopharma company with more than €10bn sales contribution from Pharma launches by 2030⁽⁴⁾.”