Sanofi Lifts Full-Year Guidance

French health care company Sanofi (SNY) raised its full-year earnings guidance on Monday as it posted better-than-expected results for its second-quarter which were supported by triple-digit growth in sales of prescription medicine Dupixent.

The Paris-headquartered company reported revenue of 8.63 billion euros ($9.60 billion) in the second-quarter, up 5.5% from a year earlier and ahead of the consensus estimate of analysts polled by Capital IQ for 8.42 billion euros.

The rise in revenue was supported by sales of Dupixent, a collaboration with Regeneron, which accounted for 496 million euros of sales, up 168.2% from a year earlier at constant exchange rates. This was partially offset by a decline in sales of diabetes products and established Rx products, including the disposal of the company’s European generics business.

Diabetes sales were worth 1.29 billion euros, down 7% from a year earlier at constant exchange rates, which the company blamed on lower glargine sales in the US.

Adjusted earnings per share were worth 1.31 euros, up 4.8% from a year earlier both at reported and constant exchange rates, which was ahead of analysts’ estimates for 1.24 euros.

“Sanofi continued its growth phase with a solid business performance in the second quarter, led by the strong launch of Dupixent driven by the accelerated uptake in atopic dermatitis and asthma in the US,” Olivier Brandicourt, chief execuive of Sanofi, said.

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