Q2 2020 sales results reflect the strong performance of Dupixent® more than offset by COVID-19 related negative effects on Vaccines, General Medicines and CHC
- Net sales were €8,207million, down 4.9% on a reported basis and a decline of 3.4%(2) at CER.
- Specialty Care sales grew 17.4% driven by strong performance of Dupixent® (+70% to €858 million).
- Vaccines sales (-6.8%) were affected by global confinements while in Southern Hemisphere demand for flu vaccines was strong.
- General Medicines sales down 12.7% partly due to confinement related deferrals of elective procedures and channel destocking.
- CHC sales declined 8.0% reflected unwinding of consumer stocking and lower pharmacy traffic as well as Zantac® voluntary recall.
Q2 2020 business EPS(1) benefits from share revaluation gain and effective cost management
- Q2 2020 business net income increased 3.6% to €1,601 million and 5.6% at CER.
- Q2 2020 business EPS(1) was €1.28, up 4.8% at CER (€1.18 excluding revaluation on retained Regeneron shares).
- During the first half of 2020, cost savings of €990 million(3) were realized.
- Q2 2020 IFRS EPS was €6.07, reflecting capital gain from sales of Regeneron shares.
R&D transformation, milestones and regulatory achievements
- Dupixent® approved as the first biologic in China for moderate-to-severe atopic dermatitis in adults – first prescription on July 22.
- Dupixent® approved for moderate-to-severe atopic dermatitis in children (6 to 11 years) in U.S. and positive CHMP opinion in EU.
- Sarclisa® approved in EU for certain adults with relapsed and refractory multiple myeloma.
- Pivotal IKEMA study evaluating Sarclisa® in relapsed multiple myeloma met primary endpoint at first planned interim analysis.
- Libtayo® demonstrated clinically meaningful and durable responses in advanced basal cell carcinoma.
- FDA granted priority review to sutimlimab in cold agglutinin disease.
- Collaboration agreements with Translate Bio, Kiadis Pharma and Kymera Therapeutics.
Full-year 2020 business EPS(1) guidance revised upward
• Sanofi now expects 2020 business EPS(1) to grow between 6% and 7%(4) at CER, barring unforeseen major adverse events. Applying average July 2020 exchange rates, the currency impact on 2020 business EPS is estimated to be between -3% to -4%.
Sanofi Chief Executive Officer, Paul Hudson, commented:“I’m proud of what the team delivered in the second quarter. Even with some headwinds from the COVID-19 pandemic, we achieved business EPS growth supported by continued outstanding sales from Dupixent®, a focus on efficiency and smart spending, and the commitment of our people to patients and our strategic priorities. We also met important regulatory milestones, forged new R&D alliances, and accelerated our efforts to develop potential COVID-19 vaccines. With four new appointments, the management team at Sanofi is now complete and together we are focused on delivering our full-year 2020 guidance.
