Markets

Stocksak: Sanofi experiences faster profit growth with Dupixent, flu vaccine


© 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)

News Source and Credit

Stocksak Editorial

We are a financial blog that covers topics such as investing, saving, spending, and earning more money. Please feel free to peruse our site and read any of the articles that catch your interest.

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button