Solid Q2 performance and strong pipeline momentum, Full-year 2023 business EPS guidance raised
Paris, July 28, 2023
Q2 2023 sales growth of 3.3% at CER and business EPS(1) growth of 8.1% at CER
Key R&D milestones and regulatory achievements in Q2
Progress on Corporate Social Responsibility strategy in Q2
Full-year 2023 business EPS guidance revised upward
Paul Hudson, Sanofi Chief Executive Officer, commented:
“We have delivered yet another quarter of growth, with Specialty Care and Vaccines as the main drivers. As we move into the second half our Play to Win strategy, we are particularly enthusiastic about the strong flow of positive R&D data readouts and regulatory achievements of this second quarter, highlighting the significant growth potential of our innovative pipeline assets. With the FDA approval of Beyfortus® for the prevention of RSV in all infants in July, the landmark Phase 3 data in COPD with Dupixent®, and the important clinical milestones with amlitelimab and frexalimab which support our decision to initiate pivotal trials, we expect to add multiple innovative medicines to our existing growth drivers over the coming years. As we enter the second half of 2023, we are executing on our new launches and we are encouraged by the early launch indicators of ALTUVIIIOTM and TZIELDTM, while navigating the anticipated impact from generic competition on Aubagio®. Our strong results in the first six months make us confident in our outlook for the remainder of the year and as a consequence we are raising our full-year 2023 EPS guidance to mid single-digit growth.”
Q2 2023 | Change | Change at CER |
H1 2023 | Change | Change at CER |
|
IFRS net sales reported | €9,965m | -1.5% | +3.3% | €20,187m | +2.0% | +4.4% |
IFRS net income reported | €1,435m | +22.1% | _ | €3,430m | +7.7% | — |
IFRS EPS reported | €1.15 | +22.3% | _ | €2.74 | +7.5% | — |
Free cash flow(3) | €1,592m | +3.7% | _ | €3,129m | -3.5% | — |
Business operating income | €2,726m | -1.0% | +6.6% | €6,059m | +4.1% | +8.0% |
Business net income(1) | €2,177m | +0.3% | +8.0% | €4,876m | +6.1% | +10.0% |
Business EPS(1) | €1.74 | +0.6% | +8.1% | €3.90 | +6.0% | +9.8% |
Changes in net sales are expressed at constant exchange rates (CER) unless otherwise indicated (definition in Appendix 9). (1) In order to facilitate an understanding of operational performance, Sanofi comments on the business net income statement. Business net income is a non-GAAP financial measure (definition in Appendix 9). The consolidated income statement for Q2 2023 is provided in Appendix 3 and a reconciliation of reported IFRS net income to business net income is set forth in Appendix 4; (2) 2022 business EPS was €8.26; (3) Free cash flow is a non-GAAP financial measure (definition in Appendix 9).
Attachment
Toronto, Ontario--(Newsfile Corp. - July 1, 2024) - NuGen Medical Devices Inc. (TSXV: NGMD) (the…
Conference Call Scheduled for Tuesday, July 2 at 11:30 AM EDTNorthvale, New Jersey--(Newsfile Corp. -…
SAN ANTONIO, July 1, 2024 /PRNewswire/ -- Replicare, a leading innovator in remote surgical telepresence…
MIAMI, July 1, 2024 /PRNewswire/ -- Med-Lab is excited to announce that it is changing…
ATLANTA, July 1, 2024 /PRNewswire/ -- SysInformation Healthcare Services, LLC ("SysInformation"), d/b/a EqualizeRCM, is a professional…
Openda: Empowering Healthcare Innovation with Advanced Medical Imaging Data Solutions PALO ALTO, Calif., July 1,…