LONDON (Reuters) -France’s Sanofi reported a third-quarter profit that beat analysts’ expectations on Friday, boosted by strong demand for its anti-inflammatory drug Dupixent and newer medicines.
It confirmed its forecast of sales growth of high single-digits at constant currency rates and earnings growth at a low double-digit percentage this year.
Sanofi has significantly amped up its research and development expenditure in recent years and plans to be more active with acquisitions as it looks to build its next wave of growth drivers beyond its asthma drug Dupixent.
But investor hopes remain high for the drug, the company’s main growth driver, especially since it was approved for a common lung condition called chronic obstructive pulmonary disease last year.
In the third quarter, business operating income was 4.45 billion euros ($5.19 billion), compared to 4.15 billion euros expected on average by analysts in a company-provided poll.
Quarterly sales of its blockbuster asthma drug Dupixent, which Sanofi makes with partner Regeneron, were 4.16 billion euros, compared with 4 billion euros expected on average by analysts.
($1 = 0.8575 euros)
(Reporting by Bhanvi Satija; Editing by Jamie Freed)
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