Sanofi Raises Guidance After Profit, Sales Beat

By Helena Smolak

Sanofi raised its full-year guidance after second-quarter profit and sales rose, both outpacing analysts expectations.

The French pharmaceutical company said Thursday that it now expects its business earnings per share to be stable at constant currency this year, previously guided at a low single digit percentage decrease at constant exchange rates.

Its second-quarter business operating profit--one of the company's preferred metrics, which strips out exceptional items- rose 3.2% to 2.81 billion euros ($3.05 billion).

Sales rose 7.8% to EUR10.745 billion, driven by continued strength in anti-inflammatory drug Dupixent and sales in its pharma segment, that offset a sales decline in vaccines due to the Covid-19 pandemic.

Analysts expected business operating profit of EUR2.69 billion on sales of EUR10.4 billion, according to consensus estimates from Vara Research.

The company said negotiations for the proposed separation of its consumer-health business last October were on track, with an earliest transaction in the last quarter this year.

Write to Helena Smolak at helena.smolak@wsj.com

(END) Dow Jones Newswires

July 25, 2024 01:44 ET (05:44 GMT)

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