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Investing.com -- Sanofi reported stronger-than-expected third-quarter results, driven by accelerating demand for its blockbuster drug Dupixent and a wave of new product launches.
Shares rose around 3% in early Paris trading after the report.
The French pharmaceutical company said Friday that net sales rose 7% year-on-year at constant exchange rates to €12.43 billion ($14.44 billion), above analyst expectations of €12.29 billion.
Business operating income stood at €4.45 billion, topping the €4.15 billion average forecast from a company-compiled survey.
Sanofi reported net profit of €2.80 billion, down 0.5% from a year earlier due to losses from discontinued operations. On an adjusted basis, business net profit rose to €3.55 billion, or €2.91 per share, compared with consensus estimates of €2.70.
The company said new medicines delivered €1 billion in sales, a 57% increase from the same quarter last year. Revenue from Dupixent, its anti-inflammatory therapy co-developed with Regeneron, climbed 26% to €4.2 billion, beating the €4.0 billion expected by analysts and offsetting a 7.8% decline in vaccine sales.
The company reaffirmed its full-year guidance for high-single-digit sales growth at constant exchange rates and expects business earnings per share to increase by a low-double-digit percentage, excluding share buybacks.
"2025 outlook reiterated, leaving consensus just above the top end of the ranges," Jefferies analyst Benjamin Jackson commented.
He expected shares to see a "likely small down" move, but with "room to recover."