The Paris-based company posted profits of $1.3 billion, or $1.03 per share, on sales of $11.3 billion, marking a -2.4% year-over-year revenue decline for the three months ended Dec. 31, 2020.
Adjusted to exclude one-time items, earnings per share were $1.46, 77¢ ahead of Wall Street, where analysts were looking for sales of $11.4 billion.
“While last year was an extraordinarily challenging year for all, I am incredibly proud of the measurable progress we made within the backdrop of a global pandemic,” Sanofi CEO Paul Hudson said in a news release. “Our teams across the world have relentlessly delivered on our strategy with a sharpened focus on operating and financial efficiencies. We bolstered our R&D pipeline with the completion of the Synthorx and Principia acquisitions, met several regulatory milestones to bring our important medicines to patients, and have seen several proofs of concept which reassure us about the priorities we chose. We continue to work in parallel on our two COVID-19 vaccine candidates, with clinical trials starting in the coming weeks.
“At the same time we want to make a more immediate contribution to help saving lives, which is why we have decided to provide manufacturing support to BioNTech and Pfizer. The continuous uptake and potential of Dupixent for patients, our contribution to population health with vaccines, reinforced with the resiliency of our general medicines and consumer healthcare portfolios are all solid foundations to build upon in 2021, helping us achieve our ambition of bringing breakthrough medicines and vaccines to people around the world.”
Sanofi said it expects its adjusted EPS to register growth in the high-single-digits across the full year for 2021.
SNY shares were up 3% at $48.52 per share in early-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up 0.7%.