Sanofi Q4 Results Rise; Sees Growth In FY22 Business EPS

French drug major Sanofi reported Friday higher profit and net sales in its fourth quarter, mainly benefited by strong sales growth of Dupixent, despite weakness in Vaccines and General Medicines. Specialty Care advanced to the largest business unit by sales.

Looking ahead for fiscal 2022, Sanofi expects business earnings per share to grow low double-digit at constant exchange rates from prior year’s business earnings per share of 6.56 euros.

Further, the Board proposed annual dividend of 3.33 euros per share, an increase of 4.1 percent.

Sanofi Chief Executive Officer Paul Hudson said, “This quarter marks the first time Specialty Care has led our GBUs by sales, highlighting a significant milestone in our transformation. At the same time, Vaccines delivered another year of record influenza sales and is on a clear growth path as demonstrated at our recent Vaccines Day.”

For the fourth quarter, net income attributable to equity holders of the company rose 6 percent to 1.13 billion euros or 0.90 euros per share from 1.07 billion euros or 0.85 euros per share last year.

Business net income was 1.73 billion euros, compared to 1.53 billion euros last year. Quarterly business earnings per share were 1.38 euros, up 13.1 percent on a reported basis or up 9.8 percent at at constant exchange rates.

Operating income, meanwhile, edged down to 1.47 billion euros from 1.49 billion euros last year. The fourth-quarter business operating income increased 9.9 percent to 2.26 billion euros, and BOI margin increased 0.7 percentage points to 22.6 percent.

Net sales for the fourth quarter were 9.99 billion euros, up 6.5 percent from last year’s 9.38 billion euros. At constant exchange rates, company sales were up 4.1 percent.

Pharmaceutical sales increased 7.4 percent year-over-year to 6.92 billion euros, mainly driven by 21.3 percent rise in Specialty Care portfolio with continued strong performance of Dupixent, while sales in General Medicines decreased 3.8 percent.

In the fourth quarter, Dupixent (collaboration with Regeneron) sales increased 53.1 percent.

Vaccines sales fell 6.5 percent mainly reflecting lower U.S influenza vaccines sales, partially offset by successful Efluelda expansion in Europe and Polio/Pertussis/Hib in the Rest of the World region.

In Paris, Sanofi sales were trading at 90.90 euros, down 0.43 percent. In the pre-market activity on Nasdaq, the shares were losing around 1.1 percent to trade at $51.89.

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