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Mar 31
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Sanofi Q1 2025 Earnings Report
Sanofi reported strong sales and earnings growth in Q1 2025, driven by successful pharmaceutical launches and robust Dupixent performance.
Key Takeaways
Sanofi delivered a solid Q1 2025 performance with 10.8% revenue growth and a 17% increase in non-GAAP EPS, supported by strong momentum in its pharma pipeline and immunology portfolio.
Pharma launches surged 44%, led by ALTUVIIIO and other new therapies.
Dupixent reached €3.48B in sales, growing 20.3% YoY.
Business EPS jumped to €1.79, signaling a strong earnings rebound.
Sanofi reaffirmed 2025 guidance, with sales and EPS growth targets intact.
Sanofi
Sanofi
Sanofi Revenue by Segment
Sanofi Revenue by Geographic Location
Revenue by Segment
Immunology Revenue
CapyFin.comPharma Launches Revenue
CapyFin.comVaccines Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.comEurope Revenue
CapyFin.comRest of World Revenue
CapyFin.com Forward Guidance
Sanofi confirmed its 2025 guidance, projecting mid-to-high single-digit sales growth and low double-digit growth in business EPS at constant exchange rates.
Positive Outlook
- Strong sales momentum from newly launched pharmaceuticals.
- Expected continued growth from Dupixent, including new indications.
- Pipeline expansion with six regulatory approvals in Q1.
- Ongoing €5B share buyback supporting EPS.
- Operational leverage from higher gross margins and controlled expenses.
Challenges Ahead
- Headwinds from biosimilar competition in legacy products like Lovenox.
- Decline in sales in China due to reimbursement and procurement policies.
- Continued erosion in older products such as Aubagio and Eloctate.
- Currency impacts forecasted at -1% to -2% on sales and EPS.
- High R&D spend driven by advanced-stage pipeline progression.
Revenue & Expenses
Visualization of income flow from segment revenue to net income