Sanofi Reports Strong Q3 Earnings Growth

Sanofi reported strong third-quarter 2024 earnings, surpassing analyst expectations with a business operating income of €4.61 billion ($4.99 billion), a 14.4% year-over-year increase. Total sales reached €13.44 billion ($14.79 billion), driven by a 25.5% rise in vaccine sales, particularly from early flu shot orders and strong demand for Beyfortus, its RSV treatment, which generated €645 million in sales. The company's flagship drug, Dupixent, also contributed significantly, with quarterly revenues climbing 23.8% to €3.48 billion. Sanofi's adjusted earnings per share were €2.86, exceeding predictions of €1.35, with overall sales growth of 12.3% on a reported basis. CEO Paul Hudson expressed optimism about the company’s future prospects, particularly following the anticipated approval for Dupixent’s new indications and the strategic sale of its consumer unit, Opella. The results led to a positive market reaction, with shares rising by 2.9% in early trading.