By Bhanvi Satija
LONDON, Oct 24 (Reuters) - Sanofi on Friday
reported third-quarter profit that beat forecasts, boosted by
demand for blockbuster asthma drug Dupixent, but the French
company flagged lower vaccination rates partly due to a
"negative buzz" around vaccines.
Sanofi's sales of its flu and COVID vaccines dropped 16.8%,
hit by pricing pressure in Germany and lower vaccination rates
in the early U.S. season. Rates declined globally, in part due
to a post-COVID fatigue.
"There might be a little bit of negative feeling about
vaccines overall," Sanofi's chief financial officer
François-Xavier Roger said on a media call after the results. "A
little bit of negative buzz around vaccines."
In the U.S., health secretary Robert F. Kennedy Jr. has
taken aim at vaccines, cutting funding for research and has
ousted the head of the Centers for Disease Control and
Prevention, which makes vaccine recommendations.
Sanofi's Roger said vaccines are essential to prevent
disease and as it was the beginning of flu season in the
Northern Hemisphere it was difficult to predict future sales
growth.
The company's overall sales in the U.S. were up 11.1% at
6.84 billion euros, as other medicines offset vaccine weakness.
Total global vaccines sales in the quarter were 3.36 billion
euros ($3.92 billion), in line with analyst expectations.
BLOCKBUSTER ASTHMA DRUG DUPIXENT BEATS FORECASTS
Quarterly sales of Sanofi's blockbuster anti-inflammatory
drug Dupixent, which Sanofi makes with partner Regeneron
, were 4.16 billion euros, compared with 4 billion euros
expected on average by analysts.
Business operating income in the quarter was 4.45 billion
euros ($5.19 billion), compared to 4.15 billion euros expected
on average by analysts in a company-provided poll.
Sanofi is ramping up research spending and acquisitions to
prepare for its growth beyond Dupixent, though investor hopes
for the drug remain high given its use in new conditions.
Sanofi confirmed its forecast for sales growth of
high-single-digits and earnings growth of low-double-digits this
year at constant currency rates.
($1 = 0.8575 euros)