Sanofi slips after Dupixent peak sales target misses expectations

IGM Biosciences

29/03/2022 08:34

** Shares in Sanofi  SASY.PA  are down over 2% to the bottom
of the French blue-chip CAC 40 index  .FCHI , after the group's
new sales target for eczema-treatment Dupixent fell short of
some forecasts
    ** The French healthcare group has raised its peak sales
target for Dupixent to more than 13 billion euros ($14.2
billion) from over 10 billion previously
    ** "This is slightly below both our expectation for sales of
$15 bln and market expectations which were around a similar
level," says JPMorgan   
    ** Before the guidance hike, analysts at Cowen had estimated
Dupixent sales at 6.7 bln euros in 2022, 7.8 bln euros in 2023,
and 12 bln euros in 2027
    ** "This new ambition does not include potential for
additional sales ambition upgrade from chronic obstructive
pulmonary disease (COPD), with pivotal readouts anticipated in
2023," adds Sanofi  
    ** Today's losses wiped off 2.6 bln euros from company's
market value    

($1 = 0.9096 euros)

 (Reporting by Dina Kartit and Sarah Morland)
 ((dina.kartit@thomsonreuters.com))