Sanofi forecasts profit growth amid competition

STORY: Sanofi on Friday (February 3) forecast moderate earnings growth this year.

It said higher demand for bestselling asthma and eczema drug Dupixent would be offset by increasing competition for its multiple sclerosis pill Aubagio.

It said the tablet, with over $2 billion in sales last year, will face rival cheaper products after after losing patent protection.

The French drugmaker said it expected 2023 earnings per share to grow by a “low single digit” percentage.

Sanofi’s fourth-quarter operating income jumped over 20% to around $3 billion, edging past analyst estimates.

The company reaffirmed its Dupixent sales target of around $11 billion this year, up more than a fifth from 2022.

The drugmaker is also seeking to widen the pill’s use across more conditions, with investors waiting on trials with smokers and lung disease sufferers.

Sanofi shares fell 3% in early Friday trade, following the firm's cautious outlook.