© Stocksak. FILE PHOTO – A logo of Sanofi on the Sanofi booth at the Viva Technology conference, dedicated to innovation at Porte de Versailles exhibition centre in Paris (France), June 15, 2022. REUTERS/Benoit Tessier
(Stocksak) – French drugmaker Sanofi (NASDAQ:) Friday’s earnings growth projections for this year were higher due to strong demand for its bestselling drug Dupixent as well as its flu vaccines.
Sanofi released a statement saying that it now expects 2022 adjusted earnings to grow by around 16%. This does not include an expected positive currency effect of between 9.5%-10.5%.
It had previously predicted that adjusted earnings per share would grow by a currency-adjusted 15 percent.
The third quarter business operating income of Sanofi, or adjusted earnings before tax and interest, rose 26.5%, to 4.5 billion euros ($4.49 Billion), which is well above the average analyst estimate of 4.17 Billion euros.
The U.S. dollar strengthening has also contributed to an increase in the value of its overseas revenues.
($1 = 1.0015 euros)