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Sanofi Q3 Business Net Income Rises; Increases 2020 Business EPS Guidance

Sanofi (SNYNF,SNY) reported that its third-quarter net income attributable to equity holders increased to 1.95 billion euros from 1.77 billion euros, previous year. Earnings per share was 1.55 euros compared to 1.41 euros. Business net income increased 1.0% to 2.30 billion euros and rose 9.4% at CER. Business earnings per share increased 0.5% to 1.83 euros on a reported basis and 8.8% at CER.

Third quarter net sales were 9.48 billion euros compared to 9.50 billion euros, a year ago. Net sales were up 5.7% at CER and down 0.2% on a reported basis. Specialty Care sales grew 23.8%, driven by strong Dupixent performance and growth in all franchises. Research and Development expenses decreased 2.9% to 1.32 billion euros. At CER, R&D expenses increased 0.4%, for the quarter.

Sanofi now expects 2020 business earnings per share to grow between 7% and 8% at CER, barring unforeseen major adverse events.

Sanofi CEO, Paul Hudson, said: "We achieved a strong quarter supported by solid sales from both Dupixent and Vaccines which allows us to upgrade our full year guidance. Our COVID-19 vaccines development efforts continue on a fast track along with ensuring global access with pre-orders signed with major countries, regions, and non-profit organizations who will work to distribute the vaccine to those who most need it."

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