Q4 2024 Sanofi SA Earnings Call Transcript
Key Points
- Sanofi SA (SNY) achieved double-digit sales growth for the third consecutive quarter, driven by new product launches and strong performance from Dupixent.
- Beyfortus reached blockbuster status in its first full year of sales, contributing significantly to the company's growth.
- The company's vaccines business crossed the EUR8 billion milestone, marking a 13.5% increase, driven by Beyfortus and a resilient flu franchise.
- Sanofi SA (SNY) improved its ranking in the Access to Medicine Index from 8th to 3rd place, highlighting its commitment to global health.
- The company plans to execute a EUR5 billion share buyback program in 2025, reflecting confidence in its future and commitment to shareholder value.
- Gross margin decreased slightly due to the absence of COVID revenues in 2024 and the impact of the Obaggio LOE.
- Business EPS growth was modest at 4.1%, impacted by a lower gross margin and increased R&D expenses.
- The introduction of changes to Medicare Part D under the IRA is expected to create modest headwinds.
- Free cash flow was impacted by price cuts of Lantus in the US, elimination of factoring of receivables, and unfavorable exchange rate impacts.
- The company's net debt increased slightly at the end of 2024 due to strategic investments and dividend payouts.
Portions of this transcript marked (technical difficulty) indicate audio problems. The missing text will be supplied if a replay becomes available.
(technical difficulty) controlling stake in Appellate and further prioritize R&D. On the business, we achieved double digit sales growth with strong contribution from launches.
This included Beyfortus that achieved blockbuster status in its first full year of sales. In R&D, we're pleased with the positive Phase 3 results of fitusiran, rilzabrutinib and tolebrutinib. They provide the foundation for potential launches this year, underpinning our sustainable growth. We are thrilled by the Phase 2 of duvacatode that is ready to move to Phase 3, pending regulatory feedback. Pooman will share more pipeline details later.
Looking at Q4 on slide 6, we reported double digit sales growth for a third consecutive quarter, supported by our key drivers, vaccines, Dupixent and pharma launches. Taking a
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