Sanofi backs guidance as it reports higher sales

By Cecilia Butini

Corrections & Amplifications

This headline was corrected at 0536 GMT. The earlier version misstated the first quarter sales as EUR8.73B.

Sanofi SA on Thursday backed its yearly guidance and reported higher sales for the first quarter, driven by its specialty care and vaccine businesses.

The French pharma company confirmed that it expects 2023 business earnings per share--a key metric--to grow low-single digit at constant exchange rates, barring unforeseen major adverse events.

For the first quarter, it posted sales of 10.22 billion euros ($11.28 billion), up from EUR9.67 billion in the same quarter a year prior. Analysts polled by FactSet had expected sales of EUR10.50 billion. Net income came in flat on year at EUR2 billion, but business net income grew to EUR2.70 billion from EUR2.42 billion the year prior, the company said.

The key metric of business earnings per share grew 11% to EUR2.16 in the quarter, said Sanofi.

Chief Executive Paul Hudson said that Sanofi's best-selling allergy drug Dupixent is on track to achieve a EUR10 billion sales objective for this year. Sales in the vaccine business were up 15% in the quarter, reflecting the recovery of booster and travel vaccines, and Covid-19 vaccine shipments in Europe, said the company.

Write to Cecilia Butini at cecilia.butini@wsj.com

-Cecilia Butini

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04-27-23 0226ET

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