Press Release: Continued strong growth in Q3 with key regulatory milestones achieved
October 28 2022 - 1:30AM
Press Release: Continued strong growth in Q3 with key regulatory
milestones achieved
Continued strong growth in Q3 with key regulatory
milestones achieved
Paris, October 28, 2022
Q3 2022 sales growth of 9.0% at CER driven by Specialty
Care and Vaccines
- Specialty Care grew
19.9% driven by Dupixent® performance (€2,314 million, +44.5%) and
launch momentum in Rare Disease
- Vaccines up 23.5%
from strong Flu sales in the quarter, rebound of Travel vaccines
and growth of Meningitis and PPH franchises
- General Medicines
achieved 2.4% core assets growth despite lower Lovenox® sales due
to decreasing demand from COVID-19
-
CHC up 1.9% with strong growth in Digestive Wellness and Cough
& Cold in a normalizing market environment post-COVID-19
Q3 2022 business
EPS(1)
up 17.9% at CER driven by higher sales and margin
expansion
- BOI margin up 1.9
ppt to 36.0% due to gross margin improvement from efficiency gains,
product mix and EUROAPI deconsolidation
- Business EPS(1) of
€2.88, up 32.1% on a reported basis and 17.9% at CER
- IFRS EPS of €1.66,
down 9.8 %, reflecting a €1,586 billion impairment charge related
to SAR444245
Progress on Corporate Social Responsibility
strategy
- Access to Medicine
Foundation recognized Sanofi Global Health Unit’s work to improve
insulin access in low-middle income countries
Key R&D milestones and regulatory
achievements
- Dupixent® approved
in the U.S. as the first and only treatment for adults with prurigo
nodularis
- FDA granted
priority review for Altuviiio™ (efanesoctocog alfa) for the
treatment of hemophilia A
- FDA approved
XenpozymeTM for the treatment of acid sphingomyelinase deficiency
(ASMD) in adult and pediatric patients
- CHMP recommended
approval of Beyfortus® (nirsevimab) for prevention of RSV disease
in infants
- CHMP recommended
approval of Enjaymo™ in adult patients with cold agglutinin disease
(CAD)
Full-year 2022 business EPS guidance
revise upward
- Sanofi now
expects 2022 business EPS(1) to grow approximately 16%(2) at CER,
barring unforeseen major adverse events. Applying average October
2022 exchange rates, the positive currency impact on 2022 business
EPS is estimated between +9.5% to +10.5%
Sanofi Chief Executive Officer, Paul Hudson,
commented:
“Our strong results for the third quarter
demonstrate that Sanofi is on the right path, with a remarkable
performance of 20% growth in both Specialty Care and Vaccines,
leading us to again raise our business EPS guidance for the
full-year. Our commitment to breakthrough science is bearing fruit.
Three of our priority first or best-in-class medicines reached
important regulatory milestones. Beyfortus® was recommended by
EMA’s CHMP for prevention of RSV disease in all infants while
Altuviiio™ was granted priority review by the US FDA for people
with hemophilia A. Dupixent® keeps breaking new ground with a
recent US FDA approval making it the first and only treatment
indicated for prurigo nodularis, the second indication in
dermatology, and fifth overall for Dupixent in the US. Social
impact continues to be at the center of our company’s agenda, as
illustrated by the introduction of our first two carbon offsetting
programs. Looking ahead, we are well positioned to achieve our BOI
margin target of 30% in 2022 and to stay focused on our ambition to
transform the practice of medicines for patients around the
world.”
|
Q3 2022 |
Change |
Change at CER |
9M 2022 |
Change |
Change at CER |
IFRS net sales
reported |
€12,482m |
+19.7% |
+9.0% |
€32,272m |
+16.2% |
+8.6% |
IFRS net income
reported |
€2,076m |
-10.1% |
_ |
€5,260m |
+3.7% |
— |
IFRS EPS reported |
€1.66 |
-9.8% |
_ |
€4.20 |
+3.7% |
— |
Free cash flow(3) |
€2,695m |
+22.4% |
_ |
€5,937m |
+6.9% |
— |
Business
operating income |
€4,498m |
+26.5% |
+13.0% |
€10,316m |
+22.0% |
+12.8% |
Business net
income(1) |
€3,606m |
+31.8% |
+17.7% |
€8,200m |
+26.5% |
+16.9% |
Business EPS(1) |
€2.88 |
+32.1% |
+17.9% |
€6.55 |
+26.4% |
+17.0% |
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
Q3 2022 is provided in Appendix 3 and a reconciliation of reported
IFRS net income to business net income is set forth in Appendix 4;
(2) 2021 business EPS was €6.56; (3) Free cash flow is a non-GAAP
financial measure (definition in Appendix 7).
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