Sanofi Expects Moderate 2023 Profit Growth On Dupixent Demand, But Dampened By Aubagio Generics Competition
Sanofi SA (NASDAQ: SNY) forecasts 2023 adjusted earnings per share to grow by a "low single-digit" percentage, not considering an expected negative currency impact of between 3.5%-4.5%.
Sanofi's CEO, Paul Hudson, commented, "With the view on the expected entrants of generic competition for Aubagio in the coming months, we remain confident in our outstanding commercial capabilities, including the ambition to reach sales of 10 billion euros for Dupixent in 2023, enabling us to guide to low single-digit EPS growth for the year."
"We closed 2022, marking the successful execution of the first chapter of our 6-year 'Play to Win' strategy. Specialty Care delivered the highest sales among our businesses. Dupixent and Vaccines continue to be our leading growth drivers," Hudson added.
Also Read: Sanofi Ends Development Of Breast Cancer Drug Amcenestrant After Trial Failure.
Aubagio, with 2022 sales of €2 billion, will face generic competition over the next few months after losing patent protection, Sanofi said.
Sanofi reported a 20.7% rise in fourth-quarter business operating income to €2.72 billion. Revenue from Dupixent surged 42% to €2.4 billion.
Fourth-quarter Vaccines sales decreased 16.3% to €1.7 billion, mainly reflecting accelerated supply phasing of influenza vaccines between Q3 and Q4.
Recently, Sanofi reportedly weighed closing operations at two of its vaccine-making facilities in India and planned to let go of 800 employees at the plants. The French company failed to secure a UNICEF contract.
The board proposed an annual dividend of €3.56, an increase of 6.9%.
Price Action: SNY shares are down 3.18% at $45.74 during the premarket session on the last check Friday.
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This article Sanofi Expects Moderate 2023 Profit Growth On Dupixent Demand, But Dampened By Aubagio Generics Competition originally appeared on Benzinga.com
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