Press Release: Strong Q1 growth driven by Specialty Care, Vaccines and CHC
27 Aprile 2023 - 7:30AM
Strong Q1 growth driven by Specialty Care, Vaccines and CHC
Paris, April 27, 2023
Q1 2023 sales growth of 5.5% at CER and business
EPS(1) growth of 11.9% at
CER
- Specialty Care grew 18.3% driven by
Dupixent® (€2,316 million, +39.7%) and Rare Disease
- Vaccines up 15.2%
reflecting recovery of Booster and Travel vaccines and COVID
vaccine shipments in Europe
- General Medicines
sales lower (-11.4%) mainly due to Lantus® and divestments, core
assets growing 1.6%
- CHC sales of €1,495
million increased by 11.2% with price and favorable phasing as main
contributors
- Business EPS(1) of
€2.16 up 11.3% on a reported basis and 11.9% at CER
- IFRS EPS of €1.60
(down 0.6%)
Key R&D milestones and regulatory
achievements in Q1
- ALTUVIIIO™ approved by the FDA for the
treatment of adults and children with hemophilia A
- Two additional approvals for Dupixent®
in Europe (EoE from 12 years and AD in 6 months and older)
- Dupixent® accepted for review in the
U.S. and Japan for the treatment of CSU
- Dupixent® met primary and all secondary
endpoints in its first phase 3 study in patients with COPD
Progress on Corporate Social
Responsibility strategy in Q1
- Sanofi partnering with Ghana
Ministry of Health to improve affordable access to diabetes
care
- Net Zero(2) by 2045 and updated
scope 3 targets validated by Science Based Targets Initiative
(SBTi)
Full-year 2023 business EPS guidance
confirmed
- Sanofi expects
2023 business EPS(1) to grow low single digit(3) at CER, barring
unforeseen major adverse events. Applying average April 2023
exchange rates, the currency impact on 2023 business EPS is
estimated between -5.5% to -6.5%
Paul Hudson, Sanofi Chief Executive Officer,
commented:
“We have started 2023 with strong results,
delivering double-digit sales growth across our Specialty Care,
Vaccines and Consumer Healthcare businesses. Dupixent® continues
its compelling performance and is on track to achieve its €10
billion sales objective for this year. The unique product profile
of Dupixent® was further underscored by highly positive pivotal
results in uncontrolled chronic obstructive pulmonary disease,
which we are looking forward to discuss with regulators. We are
also advancing our early-to-mid stage pipeline and plan to feature
several promising candidates at upcoming R&D investor events.
For the remainder of the year, we are confident in our business
outlook, while navigating the impact from generic versions of
Aubagio®, our last meaningful patent expiry this decade, with
generics entering the U.S. market at the end of Q1. With the U.S.
launch of ALTUVIIIO™ now underway and the anticipated roll-out of
Beyfortus® in time for the RSV season later this year, we keep
executing on our Play to Win growth strategy.”
|
Q1 2023 |
Change |
Change at CER |
IFRS net sales
reported |
€10,222m |
+5.7% |
+5.5% |
IFRS net income
reported |
€1,995m |
-0.7% |
_ |
IFRS EPS reported |
€1.60 |
-0.6% |
_ |
Free cash flow(4) |
€1,537m |
-10.0% |
_ |
Business
operating income |
€3,333m |
+8.7% |
+9.3% |
Business net
income(1) |
€2,699m |
+11.3% |
+11.9% |
Business EPS(1) |
€2.16 |
+11.3% |
+11.9% |
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-GAAP financial measure (definition in Appendix 7).
The consolidated income statement for Q1 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) refer to ESG
section for Sanofi Net Zero definition; (3) 2022 business EPS was
€8.26; (4) Free cash flow is a non-GAAP financial measure
(definition in Appendix 7)
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