Sanofi signals appetite for larger deals, lifts 2026 growth targets under new CEO Garijo
SNY•Sanofi said it may pursue acquisitions larger than its usual $2 billion to $5 billion range and raised its full-year sales and profit growth targets to low teens and mid teens, respectively. Third-quarter sales were €14.44 billion and business operating income was €5.43 billion, both above analyst expectations.
1. Deal strategy
Sanofi is considering larger acquisitions as it seeks to rebuild its pipeline under CEO Belen Garijo. CFO Francois Roger said the company is increasingly interested in late-stage medicines or marketed products, and could consider “white spaces or moonshots” in areas of unmet medical need. Sanofi plans to focus on immunology, rare diseases and vaccines.
2. Higher targets
The company now expects full-year sales to grow by a low-teens percentage and profit per share by a mid-teens percentage. It had previously forecast sales growth of 10% at constant exchange rates and profit per share growth slightly faster than sales.
3. Quarterly results
Third-quarter business operating income was €5.43 billion, compared with analyst expectations of €4.32 billion. Sales totaled €14.44 billion, up 14.3% at constant exchange rates and above the €13.25 billion estimate. Dupixent sales reached €5.69 billion, about 10% above expectations.
