Sanofi Q2 2021 sales grew double-digit to €8.7 billion (up 12.4% at CER) mainly driven by Dupixent® and Vaccines as indicated in its financial result ended June 30, 2021.
- Specialty Care sales increased 22.0%, due to strong Dupixent® (+56.6%) and new oncology
- Vaccines up 16.2%, driven by meningitis and boosters franchise recovery; accelerating the mRNA pipeline
- General Medicines sales increased 4.2% supported by core assets (up 11.8%) including COVID related demand for Lovenox®
- CHC increased 11.9% due to the growth of the Digestive Wellness category largely offsetting low demand for cough and cold brands
Q2 2021 business EPS growth of 16.4% at CER driven by sales performance and efficiencies
- Business EPS was €1.38, up 7.8% on a reported basis
- In H1 2021, cost savings of €450 million were realized of which the vast majority was reinvested
- IFRS EPS was €0.97 (down 84.0%), reflecting capital gain from sales of Regeneron shares in Q2 2020
Progress on implementation of the Corporate Social Responsibility strategy
- Increased representation of women in senior leadership positions to 40% (36% in Q2 2019) with an ambition of 50% by 2025
- A €3 million Planet Mobilization fund was launched to support employee projects to improve our environmental impact
Key milestone and regulatory achievements on R&D transformation
- Global Phase 3 study of adjuvanted recombinant-protein COVID-19 vaccine candidate (collaboration with GSK) started
- All pivotal studies of nirsevimab read out successfully, global submissions to start in H1 2022, one year earlier than expected
- Formation of Vaccines mRNA center-of-excellence; flu vaccine candidate entered phase 1
- Additional regulatory approvals for Libtayo® and Sarclisa® in Europe
- Three acquisitions completed: Tidal Therapeutics, Kiadis and Kymab
Full-year 2021 business EPS guidance revised upward
- Sanofi now expects 2021 business EPS to grow around 12% at CER(2), barring unforeseen major adverse events. Applying average July 2021 exchange rates, the currency impact on 2021 business EPS is estimated to be between -4% to -5%
Sanofi Chief Executive Officer, Paul Hudson, commented:
“The Sanofi business momentum has accelerated in the second quarter, delivering strong financial results driven by our core growth drivers Dupixent and Vaccines. We continue to deliver on our Play to Win strategy, and our second-quarter performance gives us confidence in Sanofi’s growth trajectory for this year.
Consequently, we are raising our full-year EPS guidance to around 12%. Significant progress was made across several clinical and regulatory milestones and in June, we formed the Sanofi mRNA vaccines Center of Excellence with the aim to lead the field in this next chapter of vaccine innovation.
We are well on our way to making Sanofi more representative of communities we serve, executing on our Diversity and Inclusion strategy and creating a work environment where our people can bring their best selves to transform the practice of medicine.”