Sanofi Posts Strong Sales Growth With New Hemophilia Medicine [BNN Bloomberg (Canada)]
Sanofi - American Depositary Shares (SNY)
US:NYSE Investor Relations:
sanofi.com/en/investors
Company Research
Source: BNN Bloomberg
Sales reached €10.5 billion ($11.2 billion) in the quarter, the French drugmaker said in a statement, ahead of the €10.3 billion average of analyst estimates. The hemophilia drug Altuviiio helped drive the performance, with surprisingly strong demand in the US since its launch in March 2023. Chief Executive Officer Paul Hudson has braced investors for a couple of years of slower growth as Sanofi ratchets up its drug-development program. The company is following the strategy of rivals including Novartis AG in focusing on cutting-edge therapies, while divesting older medicines and its consumer health division. The idea is to sacrifice earnings now for faster growth later this decade. Currency movements, particularly Argentina's peso, weighed on earnings in the quarter, with a negative effect of 4.3 percentage points, Sanofi said. Nonetheless, the company reaffirmed its financial guidance for the year and recorded first-quarter profit of €1.78 per share, slightly higher than estim
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