Sanofi Records Q4 Topline, Bottomline Growth As Blockbuster Eczema Drug Soars

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Sanofi SA's SNY Q4 FY21 sales grew 4.1% to €9.99 billion, +6.5% (+4.1% on constant exchange rates).

  • Business EPS came in at €1.38, compared with €1.22 a year ago.
  • For FY21, Business EPS rose by 15.5% at CER, while the company had guided for a rise of 14%.
  • The gross profit margin expanded 240 basis points to 69.5%, and the business operating profit margin increased from 21.9% to 22.6%.
  • The decline in flu vaccines weighed on sales in Q4. Net sales from Vaccines fell 6.5% at CER despite strong Europe sales, reflecting low U.S. influenza vaccination rates, which resulted from the prioritization of COVID-19 booster vaccinations.
  • Influenza vaccines sales decreased 12.4%, reaching €1.09 billion.
  • Q4 FY21 Pharmaceutical sales increased 7.4% to €6.9 billion, mainly driven by the Specialty Care portfolio (up 21.3%) with the continued strong performance of Dupixent while sales in General Medicines decreased 3.8%. Dupixent sales increased 53.1% to €1.55 billion.
  • Sanofi expects to report the late-stage trial results for its COVID-19 vaccine, developed with GlaxoSmithKline Plc GSK, in Q1 FY22. 
  • The companies said in December that the shot has promise as a booster.
  • Guidance: Sanofi, hoping for a comeback after losing ground in the COVID-19 jab race, said it aimed to increase its business EPS in the "low double-digit" at CER in 2022.
  • Price Action: SNY shares closed lower by 0.15% at $52.46 on Thursday.
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Posted In: BiotechEarningsNewsGuidanceHealth CareGeneralBriefs
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