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 revenue 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.

Sanofi’s growth drivers

The quarter’s performance was largely fuelled by Sanofi’s immunology and specialty medicines portfolio. Its biologic dupilumab generated €5.2bn in quarterly revenue, rising 37.6% year-on-year (YoY) and surpassing the €5bn mark for the first time.

Newly launched products also maintained strong momentum, with revenue climbing 48.3% to €1.3bn, highlighting the increasing contribution of Sanofi’s latest therapies to its portfolio.

By contrast, vaccine revenue fell 4.7% YoY to €1.1bn, largely due to a tough comparison with the second quarter of 2025, when late-season influenza immunisation campaigns in the US and Europe boosted demand.

Late-stage pipeline advances

Alongside its commercial performance, Sanofi announced several advances across its late-stage pipeline, including:

• Securing seven regulatory approvals, more than double the number achieved in Q2 last year.
• Reporting positive phase 3 data for its Pompe disease therapy in infantile-onset Pompe disease and amlitelimab as a maintenance treatment for atopic dermatitis.
• Receiving four regulatory submission acceptances and four regulatory designations.
• Refining its immunology pipeline by deciding not to pursue global regulatory approval for amlitelimab and discontinuing the itepekimab and balinatunfib programmes.

Belén Garijo, CEO of Sanofi, who took the role 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 outlook, the company reaffirmed its long-term profitability ambitions, targeting around €25bn in annual dupilumab sales by 2030, alongside approximately €10bn from its newly launched medicines.

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