Sanofi
Q1 2023 Earnings Call
Apr 27, 2023, 8:30 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Good morning, good afternoon, and good evening to everyone. Thank you for joining us to review Sanofi's first-quarter 2023 results followed by Q&A session. As usual, you can find the slides to this call on the Investors page on our website at sanofi.com. Moving to Slide 3, I would like to remind you that the information presented in this call contains forward-looking statements that involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially.
I refer you to our Form 20-F document on file with the SEC and also our document register or universal for a description of these risk sector. With that, please advance to Slide 4. Our speakers on the call today are Paul Hudson, chief executive officer; Dietmar Berger, global head of R&D at interim; the global business unit head, Bill Sibold, Thomas Triomphe, Olivier Charmeil, and Julie van Ongevalle; and Jean-Baptiste de Chatillon, chief financial officer. [Operator instructions] And with that, I'd like to turn the call over to Paul.
Paul Hudson -- Chief Executive Officer
Well, thank you, Eva, and thanks for joining our call today. Together with members of the executive team, I'll take you through Sanofi's business and financial performance in the first quarter of 2023. We had a strong start to the year, reporting first-quarter sales of EUR 10.2 billion, an increase of 5.5%, and delivering double-digit growth across three out of our four businesses. Our Specialty Care business continued to grow strongly driven by Dupixent across all geographies, indications, and demographics.
We also saw good business momentum from launches in the rare disease franchises with nirsevimab, increasing its patient share in Pompe. The consistent performance in Specialty Care is expected to more than offset the decline of Avago following loss of exclusivity, which we expect to become more meaningful throughout the remainder of the year. Vaccines reported a particularly strong quarter as we keep delivering on COVID-19 contracts in Europe. In addition, sales of travel and endemic vaccines continue to recover post-pandemic.
In General Medicines, we continue to execute on our strategy by investing in transplant and other growth assets, while rapidly divesting declining noncore products. Our Gen Med core assets continued to grow, driven by solid demand. The Consumer Healthcare business delivered double-digit growth in the quarter across key franchises such as digestive wellness, allergy, and cost of coal. Advancing to Slide 7, I'd like to highlight and provide some context around important achievements of the quarter.