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SANOFI : SANOFI REPORTS STRONG RESULTS

Still driven by sales of its flagship treatment (Dupixent, against dermatitis), the French pharmaceutical giant has announced convincing annual results, higher than its forecasts, and expects continued growth in 2022.

SANOFI : SANOFI REPORTS STRONG RESULTS

If Sanofi 's IFRS net profit was halved in 2021, to 6.22 billion euros, the net earnings per share (EPS) of the activities (preferred indicator by the group, excluding non-recurring items such as amortization and impairment of acquisitions, restructuring costs, gains and losses on disposals and tax effects) jumped 11.9% on a reported basis and 15.5% organically to 6.56 euros. This figure is higher than the objective set by the pharmaceutical group (+14%) and reflects a net profit from continuing operations of 8.21 billion over the whole of the past year. IFRS net profit for its part suffered from an unfavorable basis of comparison since it included in 2020 a gain of 7.38 billion.

The group's annual revenues for their part grew by 4.9% in published data to 37.76 billion euros, again driven by the "Specialty medicine" division. Already showing organic growth of 16.7% in 2020, the turnover of this branch increased by a further 19% at constant exchange rates and perimeter to reach 12.75 billion euros, i.e. more than a third of the revenues of the group. The success of this division is mainly due to the success of Dupixent, a product resulting from the partnership with the American biotech company Regeneron, used in particular in the treatment of asthma and dermatitis.


Having become Sanofi 's bestseller in 2020 with a 70% surge in sales to more than 3.5 billion euros, this anti-inflammatory brought in 5.25 billion euros for the group in 2021, up from 52.7% over one year. “2021 ends with a strong performance from Sanofi in the fourth quarter, driven by double-digit sales growth from Dupixent which reached a new record each quarter. marking the achievement of a new major step in our transformation" commented the group's chief executive Paul Hudson.

Vaccines, particularly against influenza, continued in 2021 to record solid revenues (+6.5% to 6.3 billion euros) despite a decline over the last three months (-6.5%) "due to decrease in flu vaccinations in the United States and record deliveries in the 3rd quarter" explains Sanofi . General medicine (which notably includes health products for diabetes and cardiovascular) saw its revenues fall by 1.4%, to 14.2 billion euros.

These results have enabled the group to increase its acquisitions in recent months, including that of Amunix in immuno-oncology, Origimm (a biotech specializing in research relating to skin conditions) and Kadmon, which notably developed a treatment for the so-called "graft versus host" disease.

“In 2021, we have further consolidated our R&D capabilities through a series of value-creating acquisitions,” says Paul Hudson. "Our excellent financial performance confirms our ability to increase our profitability by improving our product mix, controlling our expenses and reinvesting our savings in our growth engines. We are in a good position to achieve our financial objectives. 2022" adds the manager.

Sanofi says it expects, "barring major unforeseen events", net earnings per share from operations "to grow "low double-digit" (in the low double-digit range)" for the current financial year. of these convincing results, figures, the laboratory announced that it would offer its shareholders a dividend of 3.33 euros per share, against 3.20 euros last year, which will bring the total amount of dividends paid to nearly 4.2 billion euros in 2022.

On the stock market, the title reacts little but remains in the green (+0.9% to 92.09 euros) within a CAC already returned to equilibrium around 10:30 am after its morning rebound. Note that the action of the tricolor pharmaceutical giant had reached, last Thursday, a closing high since the summer of 2015 at nearly 95 euros, before suffering some profit taking.

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