Sanofi SA (NASDAQ:SNY) reported fourth-quarter sales of $13.159 billion (11.30 billion euros) on Thursday, missing the consensus of $13.41 billion. Sales increased 7% year over year, up 13.3% in constant currency.
Paul Hudson, CEO, in a press release on Thursday, said, “In the fourth quarter, sales growth accelerated to 13.3%, delivering another strong performance. Growth was supported by new medicines and Dupixent, reaching a new quarterly high. Business EPS was up by 26.7% with the benefit of cost discipline and growth leverage.”
U.S. sales were 5.80 billion euros and increased by 22.6%. The performance was primarily driven by Dupixent, pharma launches, and influenza vaccines, partly offset by other vaccines. ALTUVIIIO exceeded the $1 billion blockbuster mark in 2025.
Pharma launches increased sales by 49.4%, reaching 1.1 billion euros, primarily driven by Ayvakit and ALTUVIIIO.
Dupixent sales increased by 32.2% to 4.2 billion euros, a strong end to the year. Global sales exceeded four billion euros in a quarter for the second time and were driven by strong volume growth across approved indications.
Vaccine sales decreased by 2.5% to 2 billion euros from lower sales of Beyfortus and PPH, with influenza performing better than anticipated.
Beyfortus sales were 686 million euros, down 14.9%, and Influenza, COVID-19 vaccines sales were up 31.5% to 575 million euros.
Polio/Pertussis/Hib (PPH) primary and booster vaccines sales were down 9.5% to 551 million euros, mainly from fewer babies born in multiple countries, including China.
The French drug maker reported fourth-quarter business operating income of 2.34 billion euros, up 12.7% year over year and 21.7% in constant currency.
The reported adjusted EPS of 1.53 euros or 89 cents per ADS, beating the consensus of 84 cents, up 16.8% (+26.7% on constant currency).
Outlook
“We anticipate profitable growth to continue over at least five years,” Hudson commented on Thursday.
In 2026, sales are expected to grow by a high single-digit percentage at constant exchange rate (CER).
Business EPS at CER is expected to grow slightly faster than sales (before share buyback), delivering profitable growth.
Sanofi intends to execute a share buyback program in 2026 of 1 billion euros.
“We believe that we will not be able to mitigate the impact of the (loss of exclusivity) of Dupixent as far as sales are concerned. It’s too big to be mitigated,” Sanofi’s CFO François-Xavier Roger told Reuters.
Roger added that Sanofi aims to offset the EPS impact by leveraging existing products, advancing its pipeline through 2031, and pursuing external acquisitions.
CFO Roger told Reuters the pharmaceutical business is expected to grow, but vaccine sales are likely to be slightly negative this year, partly reflecting shifts in U.S. policy under the Trump administration.
SNY Price Action: Sanofi shares were up 0.63% at $46.06 during premarket trading on Thursday, according to Benzinga Pro data.
Photo by HJBC via Shutterstock
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