15.7% sales growth, boosted by

Sanofi Q3: 15.7% revenue growth boosted by earlier-than-expected vaccine sales; The EPS forecast for 2024 was raised due to strong business development

Paris, October 25, 2024

Third quarter sales growth of 15.7% in constant currency and earnings per share⁽¹⁾ from €2.86

• Dupixent sales increased by 23.8% to €3,476 million; Target for the full year 2024 of ~13 billion euros confirmed
• Pharma starts an increase of 67.1% to 727 million euros, led by ALTUIIIO, Nexviazyme and Rezurock
• Vaccine sales rose 25.5%, boosted by the phasing of flu sales and by Beyfortus due to approved additional capacity
• Opella rose 7.9%, driven by the Qunol acquisition
• Research and development costs increased by 12.7%
• Selling, general and administrative expenses increased 6.4%, well below sales growth, which had a positive impact on profitability
• Business EPS⁽¹⁾ of €2.86, +12.2% reported and +17.6% at constant exchange rates and an EPS of €2.25, +11.9% reported

Third quarter pipeline progress

• Four regulatory approvals: Dupixent COPD (USA, CN), Dupixent CRSwNP Youth (USA) and Sarclisa NDMM, TI (USA)
• Four positive Phase 3 data readouts: Dupixent BP, Dupixent CSU, Tolebrutinib nrSPMS and Sarclisa NDMM, TE

Opella (consumer health)

• On October 21, Sanofi and CD&R began exclusive negotiations to transfer a majority stake to Opella.*

Earnings per share for 2024⁽¹⁾ Instructions

• Earnings per share for 2024 were determined on October 21, 2024⁽¹⁾ The forecast was raised to at least low single-digit growth at constant exchange rates (CER).⁽²⁾ supported by the underlying strong business development. This reflects the new scope of the guidance, with the exception of Opella, described in the press release dated October 21, 2024. Using October 2024 average exchange rates, the impact of currency on earnings per share is in 2024⁽¹⁾ is estimated at -5.5% to -6.5%.

Paul Hudson, CEO: “We achieved nearly 16% revenue growth in the third quarter, demonstrating the fundamental strength of our portfolio. Our performance was boosted by the phasing out of flu and Beyfortus, while we experienced steady 67% growth in our launch drugs as well as volume growth in Dupixent. Dupixent is now the first biologic medicine approved for the treatment of COPD in the EU, China and the US, allowing us to bring this innovative new treatment to hundreds of thousands of patients. Our pipeline-driven transformation continued to progress with four new approvals and four positive Phase 3 data, including for tolebrutinib in secondary progressive multiple sclerosis, a disease with significant unmet medical need. We have entered into exclusive negotiations with CD&R for a majority stake in Opella to allow Sanofi to focus on innovative medicines and vaccines. We recently increased our earnings per share guidance due to strong business performance in the quarter. This momentum is already paving the way for the strong recovery we expect in 2025.”

Changes in net sales are expressed at constant exchange rates (CER) unless otherwise stated (definition in Appendix 7). (1) To facilitate understanding
Operating performance, Sanofi comments on the company’s profit and loss statement. Net profit is a non-IFRS financial measure (defined in Appendix 7). The
The consolidated income statement for Q3 and YTD 2024 is included in Appendix 3 and a reconciliation of reported IFRS net profit to corporate net profit is set out in
Appendix 4. (2) Based on preliminary earnings per share for 2023 of €7.25 excluding Opella. (3) Free cash flow is a non-IFRS financial measure (definition in Appendix 7). *The
The proposed transaction is subject to the execution of definitive agreements, the completion of the relevant social processes and customary closing conditions.