Sanofi (Nasdaq: SNY), the Paris-based drugmaker, raised its full-year 2026 sales guidance on July 30, 2026, after second-quarter net sales rose 17.8% at constant exchange rates to €11,597 million. Dupixent sales passed €5 billion per quarter for the first time.
The company now expects 2026 sales to grow by around 10% at constant exchange rates, with business earnings per share growing slightly faster than sales. The prior guidance had pointed to a lower rate of growth.
Large pharmaceutical companies have leaned on immunology and rare-disease franchises to offset falling sales of older, off-patent medicines. Sanofi's quarter followed that pattern, with growth from newer products outweighing declines across legacy treatments and much of its vaccines range.
#Dupixent Passed €5 Billion In A Quarter For The First Time
Dupixent, the anti-inflammatory treatment Sanofi develops with Regeneron, was the largest contributor to growth. Sales rose 37.6% to €5,154 million, above €5 billion per quarter for the first time, driven by volume growth across its approved uses.
Recent pharma launches generated €1,305 million in sales, up 48.3%, with Ayvakit, ALTUVIIIO and Sarclisa among the largest contributors. US sales rose 33.5% to €6,344 million, helped by those launches, Dupixent, and newly acquired Heplisav-B in vaccines.
Vaccines sales fell 4.7% to €1,150 million, against a high basis of comparison in influenza vaccines. China sales declined 4.9% to €676 million, affected by falling childbirths that weighed on polio, pertussis, and hib vaccines.
#Sanofi Lifted Its Outlook And Set A €25 Billion Dupixent Target For 2030
"Based on our strong performance in the first half and anticipating normalization of growth in the second half, we are upgrading our 2026 guidance," Belén Garijo, Chief Executive Officer, Sanofi, said in the earnings release.
Sanofi expects Dupixent sales to reach around €25 billion in 2030, complemented by approximately €10 billion from pharma launches, both measured at constant exchange rates. The targets frame Dupixent and the launch portfolio as the company's main growth engines for the rest of the decade.
The company completed a €1 billion share buyback in April 2026 for share cancellation. Shareholders approved a €4.12 per share dividend for 2025, which Sanofi said marked 31 years of consecutive dividend increases.
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#Pipeline Write-Downs Cut IFRS Earnings By 91%
Business EPS, the non-IFRS measure Sanofi highlights, rose 33.3% at constant exchange rates to €2.09. That figure strips out items such as amortization and impairment of intangible assets. On an IFRS basis, EPS fell 91.0% to €0.29 and net income dropped 91.3% to €343 million.
The IFRS decline followed a €1,031 million impairment, of which €952 million related to amlitelimab, an experimental medicine Sanofi decided will not progress to global regulatory submission. Research and development expenses rose 17.9% to €2,233 million, including more than €200 million of wind-down costs from pipeline decisions.
Sanofi also discontinued clinical development of itepekimab in chronic obstructive pulmonary disease and balinatunfib as part of its ongoing pipeline review. The company reported seven regulatory approvals and two positive phase 3 readouts during the quarter, in Pompe disease and atopic dermatitis.
Net debt rose to €15,513 million on June 30, 2026, from €10,988 million at the start of the year, reflecting the Dynavax acquisition, the buyback, and dividend payments.
Garijo said Sanofi remains confident in its trajectory of profitable growth, supported by continued pipeline investment and external growth opportunities. Regulatory decisions, clinical trial outcomes, drug-pricing pressure in the United States, and currency movements remain key risks to that outlook.