Sanofi reports strong 2024 sales driven by Dupixent and vaccine success

FRANCE – Sanofi has reported an 11.3% increase in sales for 2024, with total revenue reaching €41 billion (US $42.7 billion).

This growth was largely fueled by the performance of its autoimmune therapy, Dupixent, which generated €13 billion (US $13.62 billion) in sales.

However, analysts at BMO Capital Markets noted that this fell slightly short of the consensus estimate of US $13.75 billion (€13.18 billion).

The company also highlighted the success of its RSV vaccine for newborns, Beyfortus, which achieved blockbuster status in its first full year with €1.7 billion (US $1.77 billion) in sales.

Sanofi’s CEO Paul Hudson praised the vaccine’s performance, while Thomas Triomphe, head of vaccines, emphasized its significant impact on reducing hospitalizations in newborns. “We’ve seen many countries showing 80 to 90% reduction in hospitalizations,” Triomphe said.

Sanofi is also making progress on its vaccine pipeline. The company is conducting trials for vaccines targeting pneumococcus, meningococcus, and RSV for adults aged 18 to 49 and 60 to 75.

This would position Sanofi to compete directly with Pfizer, Moderna, and GSK in the RSV vaccine market. Additionally, the company is working on RSV vaccines for children to complement Beyfortus.

“First season, you get your newborn protected with Beyfortus. Second season, you want to provide ‘complete protection,’” Triomphe explained.

In terms of strategy, Sanofi is focusing on research and development in medicines and vaccines. This move includes shedding other revenue streams, such as its consumer healthcare unit, Opella.

In October, Sanofi announced plans to sell a controlling share of Opella, with the proceeds earmarked for future acquisitions.

CFO François Roger reaffirmed the company’s interest in mergers and acquisitions (M&A) to strengthen its pipeline.

“We are looking at opportunities in M&A, but without any pressure,” Roger said, emphasizing a cautious approach.

Sanofi increased its R&D spending by 14.6% in 2024, reaching €7.4 billion (US $7.72 billion). This followed a €900 million (US $938.6 million) boost to R&D in 2023.

While there were no major acquisitions, Sanofi remained active in deal-making. In September, the company signed a US $110 million (€105.48 million) licensing agreement with radiopharma-focused Orano Med and RadioMedix.

The following month, Sanofi acquired a 16% stake in Orano Med for US $326 million (€312.59 million) to develop radiotherapies for rare cancers.