On Thursday, Sanofi SA ( SNY ) reported a second-quarter business operating income of 2.8 billion euros ($3.03 billion), up 3.2% year-over-year and 8.3% in constant currency.

The company reported second-quarter sales of $11.57 billion (10.75 billion euros), beating the consensus of $11.37 billion. Sales increased 7.8% year over year and 10.2% on constant currency.

Also Read: Europe Approves Sanofi/Regeneron’s Dupixent for ‘Smoker’s Lungs’ A Month After US FDA Asks For Data.

The French drugmaker reported adjusted EPS of $0.93 (1.73 euros), beating the consensus estimate of $0.86, down 0.6% reported and up 4.0% at CER.

Sales of Dupixent, Sanofi’s blockbuster eczema drug, rose 29.2% to 3.30 billion euros. Reuters notes that the drug on which Sanofi ( SNY ) partners with Regeneron Pharmaceuticals Inc ( REGN ) has long been a growth driver.

Despite expanding its use for other conditions, Sanofi ( SNY ) faces shareholder concerns about its heavy reliance on the drug.

Sales of another new medicine, Altuviiio for hemophilia, were 158 million euros.

Sales of Beyfortus, a treatment for RSV infection, generated 18 million euros, reflecting the global vaccine seasonality towards the second half-year.

Sanofi ( SNY ) sells the drug in collaboration with AstraZeneca Plc ( AZN ) .

Vaccine sales decreased by 4.8% to 1.14 million euros, which was impacted by the absence of COVID-19 sales.

Guidance: For 2024, Sanofi ( SNY ) expects business EPS to be stable at constant currency, compared to earlier expectations of a low single-digit business EPS decline.

The company reaffirms that Dupixent will deliver around 13 billion euros in 2024 sales. Vaccine sales are expected to grow mid-single-digit in 2024.

Sanofi ( SNY ) shares an ambition to reach blockbuster status (sales over $1 billion) for its Beyfortus vaccine. Sanofi ( SNY ) expects the 2024 gross margin to decline slightly.

Price Action: SNY stock is up 3.73% at $53.11 during the premarket session at the last check on Thursday.

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