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☆ Sanofi loses $21 bln in market value after dropping 2025 profit target
▼ + stars: | 2023-10-27 | by ( Ludwig Burger | ) www.reuters.com time to read: +6 min

Under a push to spend more on immunology and inflammation drug development, the company abandoned a target for a 32% operating profit margin for 2025 to focus on "long-term profitability". EPS would see a strong rebound in 2025 but not enough to sustain the previous margin target. CONSUMER STAND-ALONECEO Hudson said the core innovative drugs business had improved enough to soon do without the more predictable cash flows from consumer products. The logo of French drugmaker Sanofi is seen a the Sanofi Genzyme Polyclonals in Lyon, France, September 30, 2023. The timing of the potential consumer listing, which Sanofi said would be in the fourth quarter of 2024 or later, would be set to maximize shareholder value.

Persons: Hudson, Sanofi, drugmaker, Paul Hudson, Terence McManus, Johnson, we've, Gonzalo Fuentes, Roche, Dupixent, Ludwig Burger, Sherry Jacob, Phillips, Mark Potter, Sharon Singleton Organizations: Sanofi, Bellevue Asset Management, Reuters, Barclays, Johnson, GSK, Pfizer, Bayer, Polyclonals, REUTERS, Provention, Merck & Co, Thomson Locations: France, Bellevue, Lyon, Paris

☆ Sanofi Q1 profit buoyed by better-than-expected Dupixent sales
▼ + stars: | 2023-04-27 | by ( Ludwig Burger | ) www.reuters.com time to read: +2 min

SummarySummary Companies Adj EPS still seen up by "low single digit" percentage in 2023Q1 operating profit, Dupixent sales beat consensusEstablished MS pill Aubagio hit by U.S. generic competitionApril 27 (Reuters) - French drugmaker Sanofi (SASY.PA) on Thursday posted better-than-expected earnings for the first quarter as continued gains from anti-inflammatory drug Dupixent more than offset declining sales from an established multiple sclerosis drug. It reported an 8.7% rise in quarterly business operating income, or adjusted earnings before interest and tax, to 3.33 billion euros ($3.7 billion), ahead of an average analyst estimate of 3.14 billion posted on the company's website. Revenue from eczema and asthma drug Dupixent, jointly developed with Regeneron (REGN.O), surged more than 43% to 2.32 billion euros, above a consensus of 2.27 billion euros. Finance chief Jean-Baptiste de Chatillon said in a media call that, for now, there would be no new annual peak sales estimate for the product, which Sanofi has put at more than 13 billion euros. ($1 = 0.9049 euros)Reporting by Ludwig Burger; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

☆ Sanofi, Regeneron unveil 'blow-out' smoker's lung drug data
▼ + stars: | 2023-03-23 | by ( Ludwig Burger Jubabu | Ludwig Burger | ) www.reuters.com time to read: +4 min

Sanofi and Regeneron said in a statement on Thursday a Phase III trial involving 939 current or former smokers also showed improvements in lung function, quality of life and COPD respiratory symptoms. JP Morgan analyst Richard Vosser said the trial update had "blow-out data" in store for investors, and that market consensus for 2027 Dupixent sales of 15.7 billion euros would likely be topped-up by between 1 and 2 billion euros. The anti-inflammatory drug accounted for 8.3 billion euros, or more than 19% of the French group's overall sales of 43 billion euros, last year. Sanofi reports combined global Dupixent sales from its alliance with Regeneron. Sanofi and Regeneron on Tuesday announced the European Commission had approved Dupixent to treat severe atopic dermatitis in young children.

March 13 (Reuters) - France's Sanofi SA (SASY.PA) on Monday agreed to acquire Provention Bio Inc <PRVB.O> for $2.9 billion to bolster its work on a U.S.-approved type 1 diabetes therapy and strengthen its drug pipeline following development setbacks. The deal builds on an existing co-promotion agreement between the two companies, and would give the French drugmaker full ownership of the drug, Tzield, Sanofi said, adding it expects to complete the acquisition in the second quarter of 2023. While growth in asthma and eczema drug Dupixent is boosting Sanofi's sales, investors have criticised its drug development pipeline as weak. Sanofi, the maker of long acting insulin products Toujeo and Lantus for type 2 diabetes, in 2019 quit further type 2 diabetes drug development. Chief Executive Officer Paul Hudson said last month the company saw great promise in type 1 diabetes drug development and reaffirmed his commitment to steer clear of further work on type 2 diabetes and obesity.

☆ France's Sanofi to acquire US-based Provention Bio for $2.9 bln
▼ + stars: | 2023-03-13 | by ( Dina Kartit | ) www.reuters.com time to read: +1 min

March 13 (Reuters) - France's Sanofi (SASY.PA) said on Monday it has entered into a deal to acquire U.S.-based biopharmaceutical company Provention Bio in a transaction worth $2.9 billion, or $25.00 per share in cash. This transaction builds on an existing co-promotion deal between Sanofi and Provention Bio to provide TZIELD to patients in need, said the French firm. "Provention Bio also brings certain pipeline assets in early development in immune-mediated diseases," added the group. Sanofi said it expects to complete the acquisition in the second quarter of 2023. Reporting by Dina Kartit; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

☆ Stocks making the biggest moves midday: First Republic Bank, Moderna, Newmont, Illumina and more
▼ + stars: | 2023-03-13 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

REUTERS/Mike SegarCheck out the companies making the biggest moves midday:Regional banks —Shares of regional banks plummeted following the collapse of Silicon Valley Bank and Signature Bank. Citi , Bank of America , Goldman Sachs — Shares of major banks also saw losses after the closure of the Silicon Valley Bank and Signature Bank. Moderna — The biotechnology company's shares gained nearly 6% after TD Cowen upgraded the stock to outperform from market perform. Spot gold passed the key level of $1,900 as investors bet the Federal Reserve may tone down rate hikes on the heels of Silicon Valley Bank's collapse. Over the weekend, NBC News reported that the e-commerce company warned sellers that the collapse of Silicon Valley Bank is causing delays in processing payments.

The Food and Drug Administration on Thursday approved the first drug to delay the onset of Type 1 diabetes. It’s been approved for people ages 8 and older who have early signs of Type 1 diabetes. Nearly 2 million people in the United States have Type 1 diabetes, according to the American Diabetes Association. People with Type 1 diabetes usually need multiple injections of insulin every day for the rest of their lives, often a great financial burden. The most common side effects of the medication include decreased levels of certain white blood cells, rash and headache, according to the FDA.

☆ Provention Bio diabetes drug to cost $13,850/vial
▼ + stars: | 2022-11-18 | by ( ) www.reuters.com time to read: +1 min

Nov 18 (Reuters) - Provention Bio Inc (PRVB.O) said on Friday its recently approved diabetes drug, teplizumab, would cost $13,850 a vial. A 14-day regimen of the drug would translate to a price of $193,900, the company said on a conference call. In October, Provention signed a co-promotion deal for the drug with Sanofi (SASY.PA), offering the French drugmaker first negotiation for exclusive global rights to commercialize the drug in exchange for an upfront payment of $20 million. As per the deal, the approval also allows Sanofi to purchase up to $35 million of Provention's common shares. Shares of New Jersey-based Provention Bio were down nearly 8% before the bell.

☆ U.S. FDA greenlights Provention Bio's diabetes drug
▼ + stars: | 2022-11-17 | by ( Bhanvi Satija | ) www.reuters.com time to read: +2 min

Nov 17 (Reuters) - Provention Bio (PRVB.O) said on Thursday the U.S. Food and Drug Administration had approved the use of its drug teplizumab in those aged eight years and older, the first treatment aimed at delaying the onset of insulin-dependent type 1 diabetes. In October, Provention signed a co-promotion deal for the drug with Sanofi (SASY.PA), offering the French drugmaker first negotiation for exclusive global rights to commercialize the drug in exchange for an upfront payment of $20 million. As per the deal, the approval will also allow Sanofi to purchase up to $35 million of Provention's common stock. Current standard of care for type 1 diabetes requires patients to monitor and manage symptoms such as low or high blood sugar levels through regular insulin intake. Type 1 diabetes, previously known as juvenile diabetes, is a disease in which the immune system attacks and destroys the insulin-producing beta cells in the pancreas, leaving sufferers reliant on regular insulin injections.

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