Specialty Care growth, strong launch uptake of Beyfortus®and ALTUVIIIO®drive solid Q3 results
Paris, October 27, 2023
Q3 2023 sales growth of 3.2% at CER and business EPS(1)decrease of 2.1% at CER
Key R&D milestones and regulatory achievements in Q3
Progress on Corporate Social Responsibility strategy in Q3
Full-year 2023 business EPS guidance reiterated
Paul Hudson, Sanofi Chief Executive Officer, commented:
“The continued impressive performance of Dupixent®, the highly anticipated launch of Beyfortus®for the protection of all infants against RSV and the strong uptake of ALTUVIIIO®in hemophilia were key drivers in the quarter, exemplifying our successful strategy execution towards sustainable growth from innovative medicines. The underlying strength of our growth drivers more than offset the expected impact from generic competition on Aubagio®in U.S. and lower sales from mature products across the General Medicines portfolio in the quarter. With our two recent business development deals in immunology and vaccines, we are further strengthening the core of our innovative pipeline and follow our strategic focus of transforming the practice of medicine through breakthrough science. As we enter a compelling next chapter of our company’s Play to Win strategy, we remain confident in the outlook for the last quarter and consequently keep our full-year earnings guidance unchanged.”
Q3 2023 | Change | Change at CER | 9M 2023 | Change | Change at CER | |
IFRS net sales reported | €11,964m | -4.1% | +3.2% | €32,151m | -0.4% | +3.9% |
IFRS net income reported | €2,525m | +21.6% | _ | €5,955m | +13.2% | — |
IFRS EPS reported | €2.01 | +21.1% | _ | €4.76 | +13.3% | — |
Free cash flow(3) | €1,853m | -31.2% | _ | €4,982m | -16.1% | — |
Business operating income | €4,028m | -10.4% | -1.0% | €10,087m | -2.2% | +4.1% |
Business net income(1) | €3,196m | -11.4% | -1.9% | €8,072m | -1.6% | +4.8% |
Business EPS(1) | €2.55 | -11.5% | -2.1% | €6.45 | -1.5% | +4.9% |
Changes in net sales are expressed at constant exchange rates (CER) unless otherwise indicated (definition in Appendix 7). (1) In order to facilitate an understanding of operational performance, Sanofi comments on the business net income statement. Business net income is a non-IFRS financial measure (definition in Appendix 7). The consolidated income statement for Q3 2023 is provided in Appendix 3 and a reconciliation of reported IFRS net income to business net income is set forth in Appendix 4; (2) 2022 business EPS was €8.26; (3) Free cash flow is a non-IFRS financial measure (definition in Appendix 7).
Sanofi Enters Next Chapter of Play to Win Strategy
Sanofi’s press release on Next Chapter of Play to Win Strategy can be found at:
https://www.sanofi.com/en/media-room/press-releases
1 Subject to markets conditions and consultations of social partners and work councils.
Attachment