Sanofi: strong Q1 performance and 2025 guidance confirmed
Paris, April 24, 2025
Q1 sales growth of 9.7% at CER1 and business EPS2 of €1.79
- Pharma launches reached sales of €0.8 billion, up 43.8%, driven by ALTUVIIIO
- Dupixent sales were €3.5 billion, up 20.3%
- Vaccines sales were €1.3 billion, up 11.4%, driven by favorable Beyfortus phasing
- Research and Development expenses reached €1.8 billion, up 6.9%
- Selling, general and administrative expenses were €2.2 billion, up 3.8%
- Business EPS was €1.79, up 15.7% at CER and up 17.0% reported; IFRS EPS was €1.52
Pipeline continued to deliver
- Six regulatory approvals across medicines in immunology, rare diseases, and oncology
- Recent new data from the mid-stage pipeline unlocks late-stage studies in asthma and skin diseases, broadening and deepening the scope in immunology
Sustainability strategy
- Updated sustainability strategy focuses on access to healthcare, environmental impact, and resilience of healthcare systems. 70% of the portfolio and >75% of the pipeline target diseases that are impacted by climate and environmental challenges
Capital allocation
- The closing of the sale of a controlling stake in Opella to CD&R is anticipated in Q23
- Sanofi has agreed to acquire DR-0201, a targeted bispecific myeloid cell engager4
Guidance confirmed
- In 2025, sales are anticipated to grow by a mid-to-high single-digit percentage at CER5. Sanofi confirms the expectation of a strong rebound in business EPS with growth at a low double-digit percentage at CER (before share buyback)6
- Sanofi intends to complete a share buyback program in 2025 of €5 billion of which 72% was already repurchased
Paul Hudson, Chief Executive Officer: "We had a strong start in 2025 with sales growth of 9.7%, benefiting from investments in innovation and a favorable base of comparison. Our focus on pipeline value delivered further growth for Sanofi with sales from launches of new medicines and vaccines growing by 46.5%. We obtained approval for Qfitlia (fitusiran), a new treatment for patients with hemophilia, one of three potential launches this year. ALTUVIIIO is continuing to gain market share and is on track to become our next blockbuster in the full year. Business EPS was €1.79, confirming the expected strong rebound in 2025.
Our redeployment of capital continued with significant progress on our share buyback program, the upcoming closing of the sale of a majority stake in Opella and the recent acquisition of a bispecific myeloid cell engager for deep B-cell depletion in immunology, strengthening our early pipeline and providing a potential treatment option in difficult-to-treat diseases like lupus.
We achieved significant advances in the pipeline with six approvals. We also delivered steady progress across many new medicines in respiratory diseases and dermatology, including clinically meaningful efficacy for amlitelimab in asthma, allowing us to enter phase 3 development to create future value for patients, society, and our company. Underpinned by the growth in sales and business EPS, we confirm our 2025 guidance with the knowledge of the external environment we have today."
| | Q1 2025 | Change | Change at CER |
| IFRS net sales reported | €9,895m | +10.8% | +9.7% |
| IFRS net income reported | €1,872m | +65.2% | - |
| IFRS EPS reported | €1.52 | +67.0% | - |
| Free cash flow7 | €1,029m | - | - |
| Business operating income | €2,902m | +20.1% | +18.7 % |
| Business net income | €2,212m | +15.9% | +14.5 % |
| Business EPS | €1.79 | +17.0% | +15.7% |
