Sanofi SA

SAN: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€581.00	Zgmp	Ctdvxgx

Sanofi Earnings: Strong Dupixent Sales Offset Generic Pressures as Pipeline Makes Solid Progress

Damien Conover

Jul 28, 2023

Sanofi reported second-quarter results largely as expected and consistent with our fair value estimate. We continue to view the company as undervalued, with the market not fully appreciating a growing pipeline and the very well-positioned immunology drug Dupixent, both of which also give us confidence in the firm’s wide moat.

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