Sanofi raised its forecast for the year as the French drugmaker gains new patients for blockbuster drug Dupixent and garners sales of its Covid-19 vaccine.
Earnings per share, excluding some items, will likely grow by a percentage in the mid-single digits at constant currencies, the Paris-based company said Friday. The previous guidance was for low single-digit growth.
Sanofi is working to launch three new medicines this year and expand the market for Dupixent, the blockbuster antibody treatment that recently showed promise in a chronic lung disorder, an indication that could add billions to potential sales.
The company also expects to record about €400 million ($439 million) in one-off sales of its Covid shot in the second half of the year. That’s the last time Sanofi expects to commercialize the product, Chief Financial Officer Jean-Baptiste Chasseloup de Chatillon said on a call with reporters.
The Covid revenue will boost the vaccines division, where sales rose 9.1% in the second quarter thanks to demand for a five-in-one pediatric shot in China.
Sanofi’s new drugs include Altuviiio for hemophilia and Beyfortus for respiratory syncytial virus in young children, which won regulatory clearance in the US this month. There’s also Tzield for type-1 diabetes, a drug it picked up in its acquisition of Provention Bio.
Earnings per share in the second quarter rose to €1.74, excluding some items, the company said. That surpassed analysts’ €1.68 estimate.
As Sanofi reports earnings, investors are also looking for an update on its outlook for flu vaccines and more information on safety concerns regarding an experimental multiple-sclerosis medicine called tolebrutinib.
