Sanofi shares are trading lower on the Paris Bourse (-1.37% at 80.64 euros) as investors lock in gains following yesterday's 1.21% advance, which was fueled by a solid first-quarter earnings report.
On the one hand, the French pharmaceutical giant announced that the Committee for Medicinal Products for Human Use (CHMP) has recommended Cenrifki for EU approval to treat non-relapsing secondary progressive multiple sclerosis. The CHMP's positive opinion is based on Phase 3 study data.
On the other hand, DZ Bank released a note reiterating its 'buy' rating on Sanofi stock, though it slightly trimmed its price target from 97 to 95 euros.
Analysts welcomed the success of the French group's strategic focus on immunology, particularly with Dupixent, and rare diseases. Regarding Dupixent, sales of Sanofi's blockbuster surged 30.8% to 4.2 billion euros in the first quarter, accounting for 40% of the group's total revenue.
Among the risks facing Sanofi, DZ Bank identified potential unfavorable clinical trial results relative to competitors and currency risks stemming from significant exposure to emerging markets.
As for potential catalysts for the share price, the German bank highlighted the multi-indication growth potential of Dupixent. Sanofi is currently implementing a strategy to extend patent protection in the U.S. until 2045 (up from 2031) through new formulations, such as increasing the dosing interval. DZ Bank also pointed to the success of the RSV (respiratory syncytial virus) drug Beyfortus and the acceleration of R&D through a partnership with OpenAI.
Sanofi is the largest European pharmaceutical group. Net sales by family of products break down as follows:
- pharmaceutical products (81.8%): prescription drugs for the treatment of multiple sclerosis, neurological diseases, inflammatory diseases, autoimmune diseases, rare diseases, cancers and rare hematological diseases;
- human vaccines (18.2%): pediatric vaccines, vaccines for flu, meningitis, and polio, booster vaccines, and vaccines for travelers and endemic areas.
At the end of 2025, the group had 37 production sites worldwide.
Net sales are distributed geographically as follows: France (3.9%), Europe (17.1%), the United States (50.8%), China (6%) and other (22.2%).
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