Sanofi Financial Report: Revenue of $21.9 Billion in H1, Dupixent Sells Strongly with $8 Billion

On July 31, Sanofi released its Q2 and H1 2025 financial report: In Q2, sales reached €9.994 billion (approximately $11 billion), up 10.1% (calculated at constant exchange rates, the same below); in H1, sales were €19.889 billion (approximately $21.9 billion), up 9.9%. The exchange rate is based on the 2015 H1 average rate, with 1 euro = 1.1004 USD.

By region, in H1: the U.S. market generated the highest revenue at €9.535 billion, up 16.4%; Europe market sales were €4.144 billion, up 1.8%; China market revenue was €1.388 billion, up 0.1%.

Pharmaceutical Business

In the pharmaceutical segment, newly launched products grew rapidly, with 8 products achieving €1.744 billion ($1.912 billion) in sales in H1, up 41.7%. Among them, the type A hemophilia drug ALTUVIIIO grew the fastest, with H1 sales of €542 million, up 95.4%.

From the business division perspective, immunology and vaccines are undoubtedly the core of Sanofi’s revenue, generating €7.557 billion ($8.283 billion) and €6.041 billion ($6.622 billion) respectively in H1.

Dupixent, as Sanofi's core product, supports an entire segment, with H1 sales reaching €7.312 billion ($8.015 billion), a year-on-year increase of 20.7%. Dupixent’s strong sales benefit from continuous expansion of indications, including atopic dermatitis (AD), asthma, chronic obstructive pulmonary disease (COPD), etc. In the last quarter, Dupixent also gained an indication for bullous pemphigoid.

It is worth noting that the COPD indication approval did not bring obvious secondary growth for Dupixent. Previously, Sanofi expected this indication could add up to €5 billion in annual sales for Dupixent, but the previous quarter saw a sequential decline due to inventory impact.

Besides Dupixent, other products with sales growth exceeding 20% include the RSV neutralizing antibody Beyfortus, type 1 diabetes drug Tzield, chronic graft-versus-host disease drug Rezurock, multiple myeloma drug Sarclisa, acid sphingomyelinase deficiency drug Xenpozyme, thrombocytopenic purpura drug Cablivi, type A hemophilia drug ALTUVIIIO, and rheumatoid polymyalgia drug Kevzara.

Vaccine Business

In the vaccine segment, Q2 sales were €1.214 billion, up 10.3%; H1 sales were €2.54 billion, up 10.9%. The polio/pertussis/Haemophilus influenzae type B (PPH) base and booster vaccines were the main drivers, generating €1.361 billion in H1 revenue, accounting for more than half of vaccine income.

Pipeline Progress

Sanofi currently has 82 ongoing projects in its four main disease areas (immunology, rare diseases, neurology, and oncology) and vaccines, including 40 potential new drugs and vaccines. Multiple milestone advances are expected in the second half of 2025.

Strategic Moves

So far this year, Sanofi has completed five acquisitions, aiming to find new growth points through external cooperation.

Based on growth momentum, Sanofi raised its 2025 sales guidance to the upper limit of the high single-digit growth range, with core earnings per share expected to grow in the low double digits. Meanwhile, Sanofi topped the Time global sustainability enterprise list (first in the pharmaceutical industry).