SNY Reports Strong Q3 2025 Business EPS Growth Amidst Continued Sales Momentum

Sanofi (SNY.US) announced continued growth in the third quarter of 2025, with sales reaching €12,434 million, a 7.0% increase at constant exchange rates (CER) compared to Q3 2024. Business earnings per share (EPS) for the quarter were €2.91, marking a significant 13.2% increase at CER. This performance comes as the company's business EPS exceeded analyst estimates of €1.6.

Key Business Drivers

The company's performance was significantly bolstered by newly launched pharmaceutical products and strong growth in its Immunology segment. Pharma launches, including ALTUVIIIO and Ayvakit, contributed €1.0 billion in sales, representing a 57.1% increase. Dupixent sales surged by 26.2% to €4.2 billion, exceeding €4 billion in a single quarter for the first time.

However, the Vaccines segment experienced a 7.8% decline in sales to €3.4 billion, primarily due to lower influenza vaccine sales. This was attributed to increased price competition and a lower vaccination rate. Despite this, sales in the US market increased by 11.1%, driven by Immunology and new pharma launches.

Management Outlook

Paul Hudson, Chief Executive Officer, highlighted the continued execution of their strategy and growth momentum. He noted the profitable growth driven by disciplined spending, R&D prioritization, and operational efficiency. Sanofi reiterated its 2025 guidance, anticipating high single-digit percentage sales growth at CER and a strong business EPS rebound with low double-digit percentage growth at CER.

The company is confident in its ability to pursue a trajectory of profitable growth into 2026. This confidence is underpinned by strategic capital deployment towards growth and differentiated science, with expected attractive financial returns.

Pipeline Progress and Strategic Initiatives

Sanofi achieved important milestones in its pipeline during the quarter, including two regulatory approvals for Wayrilz in the US for ITP and Tzield in China for delaying the onset of stage 3, type 1 diabetes. Two positive phase 3 readouts were also reported for amlitelimab in atopic dermatitis and Fluzone HD in influenza for individuals 50+ years.

The company also closed the acquisition of Vigil Neuroscience, strengthening its early-stage neurology pipeline. Sanofi announced an additional $625 million commitment to Sanofi Ventures, further investing in innovative biotech and digital health companies. The company intends to complete its €5 billion share buyback program in 2025, with 86.1% already executed.