Benzinga | Jul 29, 2021 07:19AM EDT

Sanofi Q2 Performance Benefits From Dupixent, Vaccines; Raises 2021 Profit Forecast

* Sanofi SA (NASDAQ:SNY) has raised its 2021 profit forecast after its vaccines and blockbuster eczema treatment Dupixent helped boost second-quarter results.

* Q2 2021 sales grew 6.55 Y/Y to (euro)8.7 billion (up 12.4% at CER), mainly driven by Dupixent and new oncology. Vaccines sales were up 16.2%, driven by meningitis and boosters franchise recovery, accelerating the mRNA pipeline.

* Sales from Dupixent, which are sold to patients with eczema and prescribed for other conditions such as asthma, jumped 57% to (euro)1.24 billion.

* General Medicines sales increased 4.2% to (euro)3.5 billion, supported by core assets (up 11.8%), including COVID-related demand for Lovenox.

* Consumer healthcare increased 11.9% to (euro)1.1 billion due to the growth of the Digestive Wellness category, largely offsetting low demand for cough and cold brands.

* The gross margin remained unchanged at around 70%.

* Business net income was up 8.1% (CER) 16.8% to (euro)1.73 billion.

* The Company said it was targeting EPS growth of around 12% at constant exchange rates this year, up from "high single-digit" percentage growth previously.

* Price Action: SNY shares are trading higher by 0.73% at $52.44 premarket on the last check Thursday.