Sanofi reported a net income of €2.84bn, or €2.25 per share, for the third quarter (Q3) ended 30 September 2024, a 12% increase compared to €2.53bn, or €2.01 per share, for the respective period in 2023.
The French pharmaceutical company’s net income for Q3 2024 increased by 154% compared to €1.11bn for the second quarter of 2024 (Q2 2024)
The company reported net sales of €13.43bn for Q3 2024, a 12% increase compared to €11.96bn for the respective quarter in 2023, and a 25% increase compared to €10.74bn for Q2 2024.
Sanofi reported operating income of €3.63bn for Q3 2024, a 13% increase compared to €3.21bn for the same period in the previous year.
The pharmaceutical company reported an income before tax of €3.50bn for Q3 2024, a 15% rise compared to €3.03bn for the same quarter in 2023.
Sanofi CEO Paul Hudson said: “We reached almost 16% sales growth in the third quarter, illustrating the underlying strength of our portfolio.
“Our performance was boosted by the phasing of flu and Beyfortus, while we saw steady growth of 67% for our launch medicines as well as volume-driven growth by Dupixent.
“Dupixent is now approved as the first-ever biologic medicine to treat COPD across the EU, China, and the US allowing us to bring this innovative new treatment to hundreds of thousands of patients.”
Sanofi reported a net income of €5.10bn or €4.05 per share, for the first nine months (9M) ended 30 September 2024, a 15% decline compared to €5.99bn, or €4.76 per share, for the first nine months of 2023.
The pharmaceutical company reported net sales of €34.64bn for 9M 2024, an 8% increase compared to €32.15bn for the same period in the previous year.
The French drugmaker reported operating income of €6.67bn for 9M 2024, an 11% decline compared to €7.53bn for the respective period in 2023.
Sanofi reported an income before tax of €6.24bn for 9M 2024, a 14% decrease compared to €7.27bn for the same period in the previous year.
Hudson added: “Our pipeline-driven transformation continued to progress with the delivery of four new approvals and four positive phase 3 data readouts, including for tolebrutinib in secondary progressive multiple sclerosis, a disease with significant unmet medical need.
“We entered exclusive negotiations with CD&R on a controlling stake in Opella, allowing Sanofi to focus on innovative medicines and vaccines.
“Based on the strong business performance in the quarter, we recently upgraded our business EPS guidance. This momentum is already paving the way for the strong rebound we said we expected in 2025 business EPS.”
Earlier this month, Sanofi entered exclusive talks to divest a 50% controlling stake in its consumer health business Opella to US-based private equity firm CD&R for about €16bn.
