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Sep 30
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Sanofi Q3 2025 Earnings Report
Sanofi reported solid earnings in Q3 2025, driven by strong performance from Dupixent and new pharma launches despite a decline in vaccine sales.
Key Takeaways
Sanofi delivered profitable growth in Q3 2025, with business EPS reaching €2.91 and total revenue of €12.43 billion. Net income remained stable, while Dupixent sales exceeded €4 billion for the first time. Vaccine sales declined due to flu-related weakness.
Business EPS was €2.91, up 13.2% at constant exchange rates
Revenue grew 7.0% at CER to €12.43 billion
Dupixent sales rose 26.2% YoY to €4.2 billion
Vaccine sales declined 7.8% YoY due to lower influenza sales
Sanofi
Sanofi
Sanofi Revenue by Segment
Revenue by Segment
Pharma Launches Revenue
CapyFin.comVaccines Revenue
CapyFin.comImmunology Revenue
CapyFin.com Forward Guidance
Sanofi reaffirmed its full-year 2025 guidance, expecting high single-digit sales growth and low double-digit business EPS growth at CER.
Positive Outlook
- Dupixent continued strong momentum
- New launches contributed significantly to revenue
- Operational efficiency improved profitability
- Positive pipeline milestones with new approvals
- Share buyback program near completion
Challenges Ahead
- Vaccine sales weakened due to flu market softness
- Currency impact remained unfavorable
- Free cash flow declined 6.1% YoY in Q3
- SG&A expenses increased to support launches
- R&D spend increased despite prioritization