French drugmaker Sanofi on Thursday posted better-than-expected earnings for the first quarter as continued gains from anti-inflammatory drug Dupixent more than offset declining sales from an established multiple sclerosis drug.
It reported an 8.7% rise in quarterly business operating income, or adjusted earnings before interest and tax, to 3.33 billion euros ($3.7 billion), ahead of an average analyst estimate of 3.14 billion posted on the company’s website.
Revenue from eczema and asthma drug Dupixent, jointly developed with Regeneron, surged more than 43% to 2.32 billion euros, above a consensus of 2.27 billion euros.
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The Paris-based drugmaker said on Thursday it still expected 2023 adjusted earnings per share to grow by a “low single digit” percentage, not taking into account an expected negative currency impact of between 5.5% and 6.5%.
It had previously flagged a negative currency impact of between 3.5% and 4.5%.
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