Sanofi SA (NASDAQ:SNY) stock fell 2.25% (As on February 2, 11:16:50 AM UTC-4, Source: Google Finance) after the company posted lower than expected results for the fourth quarter of FY 23. Specialty Care grew 13.7% driven by Dupixent and ALTUVIIIO launch performance, more than offsetting competition from generics of Aubagio in all key markets. Vaccines sales increased strongly (up 21.1%) mainly as a result of the unprecedented uptake of Beyfortus, reaching €410 million in the second quarter of its launch. General Medicines decline moderated (down 2.4%), reflecting accelerated growth of core assets (up 6.3%), offset by lower sales of Lantus and non-core asset divestment. CHC rose 8.5% due to Digestive Wellness and Physical and Mental Wellness which benefited from Qunol acquisition. The company has already launched: ALTUVIIIO, TZIELD, Sarclisa, Nexviazyme, Rezurock, Xenpozyme, Enjaymo, Cablivi; Potential launches tolebrutinib, itepekimab, amlitelimab, frexalimab, rilzabrutinib, lunsekimig, Oral TNFR1si. The main driver of the company remains Dupixent, which continued to deliver stellar performance in all approved indications and across geographies.
Moreover, Strong pipeline including record 12 blockbuster opportunities under clinical evaluation detailed at recent R&D Day. Dupixent submitted for COPD (Chronic Obstructive Pulmonary Disease) in the U.S., EU, and China. Sarclisa delivered positive phase 3 results in 1L transplant-ineligible Multiple Myeloma (IMROZ). Meanwhile, Sanofi Global Health Unit announced three new investments through its Impact Fund to support healthcare start-ups in Sub-Saharan Africa. Sanofi at COP28: supporting the decarbonization of healthcare systems
SNY in the fourth quarter of FY 23 has reported the adjusted earnings per share of 1.66 euros ($1.79), missing the analysts’ estimates for the adjusted earnings per share of 1.74 euros. The company had reported 5.2 percent decline in the adjusted revenue growth to 10.92 billion euros in the fourth quarter of FY 23, missing the analysts’ estimates for revenue of 10.99 billion euros. This is due to a weaker U.S. dollar and cheap competition to multiple sclerosis drug Aubagio outweighed rising sales of anti-inflammatory drug Dupixent.
The drugmaker said it expects fiscal 2024 non-GAAP EPS to decline in the low single digits.
Additionally, the company said its board has proposed to raise its annual dividend by 5.6% to 3.76 euros.
Separately, Sanofi said it has named Francois-Xavier Roger as its chief financial officer, effective April 1. Roger will succeed Jean-Baptiste Chasseloup de Chatillon, who is stepping down from his role