Sanofi lifts 2026 outlook as dupilumab tops €5bn

Sanofi has upgraded its full-year 2026 guidance after reporting strong second-quarter sales growth, driven by continued demand for dupilumab and momentum across its recently launched medicines.

Second-quarter sales increased 17.8% to €11.6bn, while business earnings per share rose 33.3% to €2.09. Reflecting its strong first-half performance, Sanofi now expects full-year sales to grow by around 10%, compared with its previous guidance for high single-digit growth.

Growth drivers

The strong second quarter was largely driven by Sanofi’s immunology and specialty medicines portfolio. Its biologic medicine dupilumab generated €5.2bn in quarterly sales, increasing 37.6% year-on-year (YoY) and surpassing the €5bn mark for the first time.

Recently launched medicines also maintained strong momentum, with sales rising 48.3% to €1.3bn, reflecting the growing contribution of Sanofi’s newer medicines to its portfolio.

Vaccine sales, however, declined 4.7% year-on-year to €1.1bn, primarily reflecting a high comparative base after late-season influenza immunisation campaigns in the US and Europe boosted sales in Q2 2025.

Late-stage pipeline

Beyond its commercial momentum, Sanofi reported several advances across its late-stage pipeline, including:

• Securing seven regulatory approvals, more than double the number reported in Q2 last year.
• Reporting positive phase 3 results for its Pompe disease therapy in infantile-onset Pompe disease and amlitelimab as a maintenance treatment for atopic dermatitis.
• Achieving four regulatory submission acceptances and four regulatory designations.
• Streamlining its immunology pipeline by confirming it would not seek global regulatory approval for amlitelimab and discontinuing the itepekimab and balinatunfib programmes.

Belén Garijo, CEO, Sanofi, who took the post in May after previously leading Merck KGaA, said: “We delivered double-digit sales growth and strong business EPS growth in the second quarter and, looking ahead, we are confident in our trajectory of profitable growth.”

In line with this statement, the company has reaffirmed its long-term profitability goals, targeting around €25bn in annual dupilumab sales by 2030, alongside approximately €10bn from its newly launched medicines.