Q3 2025 Sanofi SA Earnings Call Transcript
Key Points
- Sanofi SA (SNY) reported a 7% increase in Q3 2025 sales, reaching EUR12.4 billion, driven by new launches and strong performance of DUPIXENT.
- DUPIXENT achieved a milestone with EUR4 billion in quarterly sales, marking a 30% increase in patient numbers over the last 12 months.
- The company's new launches contributed EUR1.8 billion this quarter, representing 15% of total sales, with significant growth in products like Beyfortus and ALTUVIIIO.
- Sanofi SA (SNY) expanded its patient affordability program in the US, offering insulins at $35 per month, enhancing access to critical medicines.
- The Global Health unit reached a milestone of treating 1 million patients for non-communicable diseases in over 40 lower-middle-income countries since 2021.
- Vaccine sales declined due to competitive price pressure and lower flu immunization rates, particularly impacting the US market.
- The RSV toller program was discontinued as it did not meet efficacy criteria in the planned futility analysis.
- Sanofi SA (SNY) faces challenges with foreign exchange effects, impacting net group sales growth, which increased by only 2% at published rates.
- Operating expenses grew by 6%, with R&D expenses increasing by 5%, reflecting ongoing investment needs.
- The company anticipates a significant reduction in R&D reimbursement from Regeneron in 2027, potentially impacting profitability.
Hello, everyone. This is Thomas Kudsk Larsen from the Sanofi IR team. Welcome to the Q3 2025 conference call for investors and analysts. As usual, you can find the slides on sanofi.com.
Please turn to slide number 3. Here, we have the usual forward-looking statements. We would like to remind you that information presented in this call contains forward-looking statements that are subject to substantial risks and uncertainties that may cause actual results to differ materially. We encourage you to read the disclaimer in our slide presentation. In addition, we refer you to our Form 20-F on file with the US SEC and our French Universal Registration Document for a description of these risk factors.
As usual, we'll be making comments on our performance using constant exchange rates and other non-IFRS measures. Numbers used are usually in millions of euros, and for Q3 2025, only as we state otherwise.
Please turn to slide number 4. First, we have the presentation, and then we take your questions. (Operator Instructions) For Q&
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