France’s Sanofi said on Thursday that it expects annual sales to grow by high single-digit percentage, helped by strong demand for its anti-inflammatory drug Dupixent, as well as vaccines and newer treatments.
It had previously said it expects annual sales to grow by mid-to-high single-digit percentage at constant currency rates.
The drugmaker also confirmed that it expects earnings to grow at a low double-digit percentage this year.
Sanofi has significantly amped up its R&D expenditure in recent years, a move that led it to abandon its long-term margin targets in 2023. This shift underscores its focus to capitalize on the success of its blockbuster drug Dupixent as it builds its next wave of growth drivers.
Sales of its asthma drug Dupixent rose 21.1% to 3.83 billion euros ($4.38 billion), compared to 3.74 billion euros expected on average by analysts in a company-provided poll.
Quarterly business operating income, excluding one-off items, rose by 3.3% to 2.46 billion euros, below the average analyst estimate of 2.57 billion euros in a poll posted on the company’s website.
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