Avapritinib

“Bottom line is, we have to continue to defend with evidence the impact, the positive impact of vaccines, and we will always do that, irrespective of who is in office or not, and that’s our job,” Sanofi chief Paul Hudson said. Amid mounting concerns about the state of vaccine policy in the United States, Sanofi's leadership is keeping a cool head while acknowledging that the company's immunizations sales are slated to decline again this year.The comments—which included a defense of vaccines by Sanofi CEO Paul Hudson—come as Sanofi reported (PDF) Thursday that its total vaccine sales fell 2.5% in the fourth quarter and 1.2% for the entire year, reaching 7.9 billion euros (roughly $9.5 billion) for all of 2025.The company again expects “vaccine sales to slightly decline in 2026,” Sanofi’s chief financial officer, François Roger, said on a call with analysts, although he highlighted a few bright spots in the business’ performance last year, too.Notably, the company’s roster of influenza shots performed “better than anticipated” in the fourth quarter, and Beyfortus—Sanofi’s AstraZeneca-partnered antibody for infant protection against respiratory syncytial virus (RSV)—grew 9.5% over the full year to reach sales of 1.78 billion euros ($2.1 billion), despite a rocky Q4. Overall, the company was “very happy” with Beyfortus’ 2025 performance, Sanofi’s vaccines chief Thomas Triomphe said on the call, attributing the immunizing antibody’s sales win to Beyfortus’ growing geographic footprint.When the topic of U.S. vaccine policy changes came up during the Q&A portion of Sanofi’s call, Triomphe reiterated that Beyfortus is unaffected by the recent changes to the country’s childhood immunization schedule.“Now, will it create—and to what extent—confusion for parents and HCPs? It’s too early to say, and we need to see that in the coming months,” he explained.CEO Hudson, for his part, was quick to admit on a call with journalists earlier Thursday that there’s “no doubt that in the short term, there’s some challenge from the administration on the pediatric vaccines,” referring to the second Trump administration in the U.S.Still, that won’t deter Sanofi from its immunization mission and may even present the company with some unique opportunities.“It’s a good time to make acquisitions in vaccines, with the uncertainty,” Hudson explained. “The risk of people trying to compete with you for an asset is slightly lower.”He noted that Sanofi made several vaccine-focused acquisitions last year, culminating in its December purchase of hepatitis B shot maker Dynavax for $2.2 billion.More broadly speaking, however, he noted that Sanofi takes a “long-term view” of the field.“In this industry, governments across the world change with some frequency—predictable—and we have to think long-term what’s best for patients,” he said. “We don’t make clinical decisions based on politics or sentiment in the now; we make [them] on what’s best for patients, and that’s how we rank our projects against each other.”Regarding the U.S. specifically, if companies keep innovation at the forefront of their work and have the evidence to back up their work, the current administration “can understand you,” and companies “can still make great progress,” according to Hudson. The CEO concluded his take by standing firm in the defense of vaccines, calling them the “number one gift to public health” after clean water.“Bottom line is, we have to continue to defend with evidence the impact, the positive impact of vaccines, and we will always do that, irrespective of who is in office or not, and that’s our job,” he said.Turbulent vaccine landscape notwithstanding, Sanofi fared well in 2025 and expects that momentum to largely continue into this year.In the fourth quarter, the company grew sales 13.3% at constant currencies to 11.3 billion euros (roughly $13.5 billion), and during that period, recent pharma launches grew nearly 50%, driven in large part by mastocytosis med Ayvakit and Altuviiio for hemophilia A.Sanofi’s total 2025 sales reached 43.62 billion euros ($52 billion), representing a 6.2% increase over the prior year.Rather predictably, Regeneron-partnered immunology stalwart Dupixent did gangbusters last year—and in Q4 in particular—on the strength of recent launches in chronic obstructive pulmonary disease (COPD), bullous pemphigoid (BP) and chronic spontaneous urticaria (CSU). And the “foundations of [its] indications grew as well,” Brian Foard, Sanofi’s head of specialty care, said on the company’s call.While those launches yielded a major boost in the fourth quarter, with Dupixent delivering more than 32% growth at 4.2 billion euros ($5 billion) in sales, Sanofi expects that pace of growth to “normalize” heading into 2026, according to Foard, who reiterated that the drug remains on track to hit sales of around 22 billion euros by 2030.For the full year, Dupixent lassoed up 15.7 billion euros ($18.7 billion) in sales, good for more than 25% growth over 2024. Looking ahead, Sanofi anticipates that its 2026 sales will grow at a “high single-digit percentage.”That forecast is “essentially in line with consensus,” analysts at Leerink Partners wrote in a note to clients Thursday. 

2025: strong sales and EPS growth.Continued profitable growth expected in 2026 Paris, January 29, 2026 Q4 sales growth of 13.3% at CER1 and business earnings per share (EPS)2 of €1.53 Pharma launches increased sales by 49.4%, reaching €1.1 billion, primarily driven by Ayvakit and ALTUVIIIODupixent sales increased by 32.2% to €4.2 billion, a strong end to the yearVaccines sales decreased by 2.5% to €2.0 billion, with influenza performing better than anticipatedResearch and Development expenses reached €2.3 billion, up by 6.6%Selling, general and administrative expenses reached €2.7 billion, up by 9.6%, supporting launchesBusiness EPS was €1.53, up by 26.7% at CER; 16.8% at actual exchange rates, delivering profitable growth; IFRS EPS -€0.66 Pipeline progress Ten regulatory approvals across immunology, rare diseases, and otherPositive phase 3 readouts: amlitelimab program in AD (COAST 2, SHORE) and Dupixent in AFRSTolebrutinib in PPMS did not meet the primary endpointFour regulatory submission acceptances, five phase 3 study starts, three regulatory designations (orphan, priority reviews) Capital allocation Announcement of the Dynavax acquisition3 and completion of the Vicebio acquisitionCompletion of the €5 billion share buyback programProposed dividend of €4.12; up by 5.1% Other major developments Sanofi reached agreement with the US government to lower medicine costs while strengthening innovationSanofi leads an industry working group on biopharma life cycle assessment Guidance In 2026, sales are expected to grow by a high single-digit percentage at CER. Business EPS at CER is expected to grow slightly faster than sales (before share buyback), delivering profitable growth.4 Sanofi intends to execute a share buyback program in 2026 of €1 billion. Paul Hudson, Chief Executive Officer: “In the fourth quarter, sales growth accelerated to 13.3%, delivering another strong performance. Growth was supported by new medicines and Dupixent, reaching a new quarterly high. Business EPS was up by 26.7% with the benefit of cost discipline and growth leverage. We obtained ten regulatory approvals across immunology, rare diseases, and other, and had several positive phase 3 readouts. In 2025, we achieved a strong year of profitable growth. Sales increased by 9.9% at constant exchange rates, while business EPS improved significantly faster by 15.0%. We launched three new medicines and vaccines: Qfitlia, Wayrilz, and Nuvaxovid, providing innovative options to patients with rare diseases and COVID-19 prevention. All this was made possible by the dedicated effort of all Sanofi colleagues worldwide. In 2026, we expect sales to grow by a high single-digit percentage and business EPS to grow slightly faster than sales. We anticipate profitable growth to continue over at least five years.” Q4 2025ChangeChange at CERFY 2025ChangeChange at CERNet sales €11,303m +7.0% +13.3% €43,626m +6.2% +9.9%IFRS net income€(801)m -260.5% — €7,813m +40.5% — IFRS EPS€(0.66) -265.0% — €6.40 +44.1% — Free cash flow5 €2,637m +12.7% — €8,089m +35.8% — Business operating income €2,341m +12.7% +21.7 % €12,149m +7.1% +11.9%Business net income €1,856m +13.0% +22.3 % €9,555m +7.2% +12.1%Business EPS €1.53 +16.8% +26.7% €7.83 +10.0% +15.0% 1 Changes in net sales are at constant exchange rates (CER) unless stated otherwise (definition in Appendix 9).2 To facilitate an understanding of operational performance, Sanofi comments on the business net income, a non-IFRS financial measure (definition in Appendix 9). The income statement is in Appendix 3 and a reconciliation of IFRS net income to business net income is in Appendix 4.3 The acquisition of Dynavax is currently pending; it is expected to close in Q1 2026 subject to the satisfaction of customary closing conditions.4 Applying January 2026 average currency exchange rates, the currency impacts are estimated at c.-2% on sales and at c.-3% on business EPS.5 Free cash flow is a non-IFRS financial measure (definition in Appendix 9). Attachment Press release