(BFM Stock Exchange) – The pharmaceutical group has delivered online results with expectations in the fourth quarter. The laboratory has mainly announced to count on a two -figure increase in its main profitability indicator this year and decided to implement a program of share buybacks of 5 billion euros.

For the moment, on the handful of values ​​of the CAC 40 which have already published their annual results, Sanofi receives a positive reception from the market.

The pharmaceutical group won 1.7% on the Paris Stock Exchange in the middle of the afternoon, this Thursday, January 30, outperforming the CAC (+0.8%).

Sanofi has delivered online results with expectations for the fourth quarter. The pharmaceutical company recorded sales of 10.56 billion euros up 9.1% in published data and 10.3% at constant exchange rates.

Sanofi’s activity has still been carried by its drug “blockbuster”, the dupixent, an anti-inflammatory benefit from many indications, especially in the treatment of asthma, atopic dermatitis or for “smoker’s bronchitis”.

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Dupixent disappoints a little

Dupixent sales registered at 3.46 billion euros over the quarter, up 16% excluding exchange effects. Over the 2024, it set up 13.07 billion increased by 23.1% excluding exchange effects.

The flagship product of Sanofi, however, disappointed a little since, according to a consensus quoted by Oddo BHF, analysts awaited Dupixent sales of 3.61 billion euros in the fourth quarter.

Conversely, the sales of Beyfortus, a vaccine intended to protect newborns and infants from bronchiolitis with syncytial respiratory virus, surprised. These sales reached 841 million euros against 648 million euros expected.

The operating profit of the company’s activities fell 7.7% excluding exchange effects at 2.08 billion euros. Its net profit by action of activities, its main profitability indicator, fell 11% on these same bases at 1.31 euros.

Analysts anticipated a profit per share of activities of 1.31 euros, so stack the result published by Sanofi, and a turnover of 10.39 billion euros.

Action buybacks

For 2025, Sanofi indicated to expect an increase “of a percentage to an average figure at high exchange rates” (that is between 5% and 9%) and an increase in its profit per share of its activities at Two figures (or at least 10%). This last forecast is qualified as “solid” by Stifel, especially since this target excludes the impact of share buybacks.

Sanofi announced on Thursday a program of share buybacks in the amount of 5 billion euros which will then be canceled. Stifel calculates a positive impact of 3 to 4 percentage points on the profit by action of activities, all other things being.

By adding this impact to the Sanofi objectives and positive exchange effects of 2 to 3 percentage points, the bank calculates that this profit per share could increase by at least 15% in 2025 to reach 8.2 euros, a figure 1% to 2% higher than consensus expectations.

The current year “should benefit from the continuous concentration of the group’s strategy on brands and key geographic areas, with a marked reallocation of resources in their favor, while carrying out the savings program of 2 billion euros “, Also anticipates Stifel.