Speciality care, vaccines sale prompts Sanofi to raise outlook
Paris: Sanofi raised its 2020 earnings guidance for the second time this year after posting slightly stronger-than-expected third-quarter results on Thursday, helped by growth at its speciality care and vaccines units.
The French drugmaker said it now expected earnings per share to increase 7-8% this year, up from 6-7% previously.
Revenue in Sanofi's vaccine arm was up 13.6% at constant exchange rates to 2 billion euros ($2.36 billion) in the third quarter, which it said was due to record flu vaccine sales.
Governments across the world have been calling for increased influenza vaccination, especially among at-risk populations, to avoid additional pressure on healthcare and hospital systems already strained by the coronavirus crisis.
Sanofi said earlier this year it would increase flu vaccines production by 20% to meet a surge in demand, but shortages are still being experienced in several European regions.
Read also: Sanofi India reports net profit of Rs 133 crore in Q2
Disclaimer: This website is primarily for healthcare professionals. The content here does not replace medical advice and should not be used as medical, diagnostic, endorsement, treatment, or prescription advice. Medical science evolves rapidly, and we strive to keep our information current. If you find any discrepancies, please contact us at corrections@medicaldialogues.in. Read our Correction Policy here. Nothing here should be used as a substitute for medical advice, diagnosis, or treatment. We do not endorse any healthcare advice that contradicts a physician's guidance. Use of this site is subject to our Terms of Use, Privacy Policy, and Advertisement Policy. For more details, read our Full Disclaimer here.
NOTE: Join us in combating medical misinformation. If you encounter a questionable health, medical, or medical education claim, email us at factcheck@medicaldialogues.in for evaluation.