Salem Radio Network News Friday, November 26, 2021

Business

Drugmaker Sanofi raises 2021 profit guidance again after Q3 beat

(Reuters) – French drugmaker Sanofi again raised its profit guidance for 2021 as its blockbuster eczema drug Dupixent and flu vaccines helped it beat market forecasts in the third quarter.

The group, which is hoping for a comeback after losing ground in the COVID-19 jab race, said sales in the three months to September grew 10.1% to 10.4 billion euros ($12.1 billion) while earnings per share came in at 2.18 euros. The latter compared with a 1.99 euros average forecast in an analyst consensus provided by the company.

Sanofi now expects earnings per share to climb by around 14% at constant currencies this year, up from a previous, already improved estimate for 12% growth released in July.

($1 = 0.8618 euros)

(Reporting by Silvia Aloisi; Editing by Sudip Kar-Gupta)

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