Sanofi Q3 Sales €12.43B on Record Dupixent

Sanofi reported Q3 2025 net sales of €12.43 billion, up about 7% year-over-year, driven by record quarterly Dupixent revenue of just over €4 billion and strong pharmaceutical launches including ALTUVIIIO and Ayvakit. Sales of recently launched pharma products rose roughly 57% to about €1 billion, while vaccines—notably seasonal influenza—were weak amid lower vaccination rates and negative sentiment; foreign-exchange movements trimmed about 4% from sales. Adjusted/business EPS beat estimates (EPS €2.91 ex-items) and net income was essentially flat year-over-year. Management said it remains in ongoing talks with the U.S. administration on drug-pricing arrangements and reiterated a commitment to invest at least $20 billion in the U.S. through 2030. The company reaffirmed its 2025 guidance for high single-digit sales growth and a low double-digit rebound in business EPS at constant exchange rates, is advancing pipeline work to replace Dupixent ahead of its 2031 patent expiry, and plans to complete a €5 billion buyback in 2025 (about 86% executed to date).