Sanofi reports strong sales and earnings growth in 2023, driven by new products and pipeline

PARIS, FRANCE: Sanofi, a global leader in healthcare, announced today its financial results for the year 2023, showing a 5.3% increase in sales and a 5.4% increase in business earnings per share (EPS) at constant exchange rates (CER).

The company attributed its solid performance to the successful launches and growth of its specialty care products, especially Dupixent and ALTUVIIIO, as well as its vaccines, notably Beyfortus, the first COVID-19 vaccine based on mRNA technology.

Sanofi also highlighted its progress in its research and development (R&D) transformation, with 12 potential blockbusters under clinical evaluation and positive results for Dupixent in COPD and Sarclisa in multiple myeloma.

In addition, Sanofi reaffirmed its commitment to corporate social responsibility, with new investments in healthcare start-ups in Africa and initiatives to support the decarbonization of healthcare systems. For 2024, Sanofi expects its business EPS to remain roughly stable or decrease slightly, excluding the impact of a higher effective tax rate and currency fluctuations. The company also proposed an annual dividend of €3.76, up 5.6% from the previous year.

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.”

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