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Investing.com -- Sanofi (NASDAQ:SNY) on Thursday reported a 9.7% increase in first-quarter 2025 sales at constant exchange rates, reaching €9.90 billion, with business earnings per share rising 17% to €1.79.
IFRS earnings per share stood at €1.52, a 67% increase from the same period last year. Growth was led by strong demand for Dupixent and newly launched medicines, as well as a solid performance in vaccines.
Sales in the United States climbed 15.4% to €4.66 billion, driven by Dupixent, Lantus and the hemophilia treatment ALTUVIIIO.
Sales in Europe edged up 0.5% to €2.04 billion, while sales in the Rest of World segment rose 8.4% to €3.20 billion.
Sales in China declined 1.7%, as national reimbursement changes and volume-based procurement weighed on results.
Pharmaceutical (TADAWUL:2070) launches generated €847 million in revenue, up 43.8% year-over-year. ALTUVIIIO led the group with €251 million in sales, while Nexviazyme/Nexviadyme and Sarclisa posted growth of 26.3% and 26.4%, respectively.
Rezurock contributed €131 million, up 36.6%. Overall, new launches, including vaccines, added €1.13 billion, rising 46.5% from the previous year.
Dupixent delivered €3.48 billion in global sales, up 20.3%, with gains across all approved indications. U.S. sales totaled €2.48 billion, while Europe and Rest of World sales reached €459 million and €545 million, respectively.
Sanofi reported early momentum for Dupixent in chronic obstructive pulmonary disease, following new approvals.
Vaccine sales reached €1.33 billion, an increase of 11.4%, led by the RSV vaccine Beyfortus, which rose 54.9% to €284 million. Polio, pertussis and Hib vaccines contributed €668 million, up 3.8%. Sales of influenza vaccines fell 1.4%.
Among established products, Lantus reported a 24.4% increase to €450 million, supported by U.S. sales of €196 million, which jumped 68.8% from a low base due to prior adjustments and market factors.
Toujeo gained 10%, reaching €354 million. Aubagio and Eloctate saw sales fall 37.3% and 20.9%, respectively.
Sanofi’s business operating income rose 18.7% at CER to €2.90 billion, while the operating margin improved by 2.2 percentage points to 29.3%. Gross profit reached €7.72 billion, up 14.2%, with gross margin up to 78% from 75.7% last year.
Free cash flow was €1.03 billion. Net debt increased to €11.25 billion as of March 31, up from €8.77 billion at year-end, due in part to €3.61 billion in share buybacks. Sanofi said it had completed 72% of its €5 billion buyback program for 2025.
“We had a strong start in 2025 with sales growth of 9.7%, benefiting from investments in innovation and a favorable base of comparison,” said Paul Hudson (NYSE:HUD), chief executive officer. “Our focus on pipeline value delivered further growth for Sanofi with sales from launches of new medicines and vaccines growing by 46.5%.”
Sanofi reaffirmed its full-year 2025 guidance, forecasting mid-to-high single-digit sales growth at CER and low double-digit business EPS growth, excluding share buybacks.