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2021-10-28

Sanofi : Strong Q3 performance drives guidance upgrade to around 14% business EPS growth at CER(1)

Paris, October 28, 2021

Strong Q3 performance drives guidance upgrade to around 14% business EPS growth at CER(1)

Q3 2021 sales grew double digit to €10.4 billion (up 10.1%) due to strong growth from Dupixent®, Vaccines and CHC

  • Specialty Care sales increased 20.2% with strong contribution from Dupixent® (+54.6% to €1,410 million)
  • Vaccines up 16.5%, with record quarterly sales driven by differentiated flu vaccines and meningitis franchise recovery
  • CHC increased 11.1% driven by growth of Pain care and Digestive Wellness categories
  • General Medicines sales down 1.7% while transformation of business model supports core assets growth (up 4.5%)

Q3 2021 business EPS(2) growth of 19.1% at CER driven by sales performance and efficiencies

  • Business EPS(2) was €2.18, up 19.1% on a reported basis
  • BOI margin reached 34.1% up 2.2 ppts reflecting improvement in Gross margin and continued expense management
  • IFRS EPS was €1.85 (up 19.4 %)

Progress on Corporate Social Responsibility strategy

  • Carbon neutrality target accelerated to 2030; a 2050 net zero objective established
  • Sanofi ranked #1 in the European pharma sector by ESG rating agency Vigeo Eiris (part of Moody’s ESG Solutions)

Key milestone and regulatory achievements on R&D transformation

  • Positive pivotal phase 3 readouts for Dupixent® in chronic spontaneous urticaria and infant atopic dermatitis (6 months to 5 years)
  • Nexviazyme® approvals in U.S. and Japan
  • Submissions of sutimlimab in the U.S. and olipudase alfa in Japan under the Sakigake pathway
  • Acquisition of Translate Bio completed, first positive clinical data read-out validating the mRNA platform

Full-year 2021 business EPS guidance revised upward(1)

  • Sanofi now expects 2021 business EPS(2) to grow around 14% at CER(3), barring unforeseen major adverse events. Applying average October 2021 exchange rates, the currency impact on 2021 business EPS is estimated to be between -3.5% to -4.5%

Sanofi Chief Executive Officer, Paul Hudson, commented:

“Sanofi has delivered outstanding financial results in the third quarter. Double-digit sales growth in the period was driven by the remarkable performance of Dupixent®, record sales of Vaccines and business momentum in Consumer Healthcare, all in line with our strategic priorities. As a result of our sales performance and strong earnings, we have upgraded our full-year EPS guidance growth to around 14% at CER. In R&D, our growing pipeline of potentially transformative therapies has progressed, including the most recent positive readouts for Dupixent® in Eosinophilic esophagitis and Prurigo nodularis as well as the U.S. approval and launch of Nexviazyme® in Pompe disease. With higher R&D investment behind our pipeline assets and the two targeted bolt-on acquisitions of Translate Bio and Kadmon, we have further increased our commitment to bring innovative medicines to patients and drive future growth. Aligned with our contract with society and leading up to COP 26, we have set ourselves new ambitious ESG targets to reduce carbon emissions and accelerate our actions in fighting global climate change.”

 Q3 2021ChangeChange
at CER
9M 2021ChangeChange
at CER
IFRS net sales reported€10,432m+10.1%+10.1%€27,767m+4.2%+8.2%
IFRS net income reported(4)€2,317m+18.7%_€5,093m-54.7%
IFRS EPS reported€1.85+19.4%_€4.07-54.6%
Free cash flow(5)€2,202m+16.9%_€5,555m+1.9%
Business operating income€3,558m+17.5%+17,3%€8,461m+9.7%+15.0%
Business net income(2)€2,736m+19.0%+18.8%
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