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Sanofi Shares Rise On Q1 Sales Boosted By Dupixent Franchise; Plans To Restart Haemophilia Study With Fitusiran

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Sanofi Shares Rise On Q1 Sales Boosted By Dupixent Franchise; Plans To Restart Haemophilia Study With Fitusiran

Sanofi SA (NASDAQ: SNY) stock climbed after its Q1 earnings beat earnings expectations and stuck to its full-year guidance, as well as reported progress on its delayed COVID-19 vaccine efforts.

Earnings: Overall sales increased by 2.4%, attributed mainly to Dupixent’s success, with vaccines also contributing with a 5.3% rise in sales to €915 million.

The Regeneron Pharmaceuticals Inc (NASDAQ: REGN)-partnered drug pulled in more than €1 billion worldwide for a year-over-year increase of 45.6% at the common exchange rate. Dupixent also scored a spot on China’s coveted National Reimbursement Drug List in March, marking the official launch of Dupixent in one of the world’s largest markets.

Two of Sanofi’s other franchises, Praluent and Toujeo, also launched in China this past quarter. Though Praluent sales were down 20.5% due to lower sales in the US, the drug spiked outside the country: Sales grew 20% in Europe and 45.5% outside of the US and Europe.

The drug company, which has fallen behind in the COVID-19 vaccine race, said results from a Phase 2 study into its candidate, being developed with GlaxoSmithKline Plc (NYSE: GSK), are expected next month.

Sanofi’s Pompe disease program, avalglucosidase alfa, saw its PDUFA date pushed back by three months, from May 18 to August 18, the company noted in its Q1 earnings presentation.

Guidance: Looking ahead to the second quarter, Sanofi highlighted its joint vaccine venture with Merck & Co (NYSE: MRK). The pair’s pediatric 6-in-1 combination vaccine Vaxelis is expected to launch in the US before the end of June.

Also, Sanofi is planning to restart dosing and recruitment in its pediatric fitusiran clinical trial this year. The study has been on hold since the identification of vascular thrombotic events in the wider hemophilia program late last year.

Sanofi disclosed its pediatric plans as part of a broader update about its pipeline, including details of its decision not to opt-in on Regeneron’s REGN4018, REGN5459, or REGN5458.

The company expects 2021 business EPS to grow high single-digit at CER. Applying average April 2021 exchange rates, the currency impact on 2021 business EPS is estimated to be between -4% to -5%.

Price Action: SNY shares are up 2.5% at $52.86 in market trading hours on the last check Wednesday.

 

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