Sanofi (NASDAQ:SNY) Q2 2024 Q2 2024 Earnings Conference Call July 25, 2024 8:30 AM ET

Company Participants

Thomas Kudsk - Investor Relations
Paul Hudson - Chief Executive Officer
François Roger - Executive Vice President, Chief Financial Officer
Houman Ashrafian - Executive Vice President, Head of Research and Development
Brian Foard - Executive Vice President & Head-Specialty Care, Sanofi
Thomas Triomphe - Executive Vice President-Vaccines, Sanofi
Olivier Charmeil - Executive Vice President, Vaccines

Conference Call Participants

Graham Parry - BofA
Shirley Chang - Barclays
Seamus Fernandez - Guggenheim
Jo Walton - UBS
Tim Anderson - Wolfe Research
Luisa Hector - Berenberg
Florent Cespedes - Bernstein
David Risinger - Leerink
Gary Steventon - Exane
Ben Jackson - Jefferies
Eric Berrigaud - Stifel
Peter Verdult - Citi

Thomas Kudsk

This is Thomas Kudsk Larsen with the IR team. Welcome to the Q2 2024 Conference Call for investors and analyst. As usual, you can find the slides on sanofi.com. Please turn to slide 3. Here we have the usual forward-looking statements. We'd like to remind you that the information presented in this call contains forward-looking statements, which is subject to substantial risks and uncertainties that may cause actual results to differ materially. We encourage you to read the disclaimer in our slide presentation. In addition, we refer you to the Form 20-F file with the US SEC on d’Enregistrement document for a description of these risk factors.

As usual, we’ll be making comments on our performance using constant statements and other non-IFRS measures. Numbers used are in million euros and for Q2 2024 unless stated otherwise.

Please turn to slide 4. First, we have a presentation then we take your questions. We have kept the presentation short as other companies report today and we aim at keeping the call to maximum one hour.

For Q&A, we have Brian, Olivier, Thomas and Julie to cover the global business units and Roy, our General Counsel.

For the Q&A, you have two options in Zoom, raise your hand or submit your questions using the Q&A function. And with this I’ll hand over to Paul.

Paul Hudson

Well, thank you, Thomas. So much better when you do the intro. Thank you and hello to everyone on the call. Our strong business momentum continued in the second quarter. We delivered double -digit sales growth at CER and we continue to execute on our former launches and we keep advancing our pipeline of new medicines. Our growth was driven by a strong quarter for Dupixent, seven years into its launch and the broad-based performance of our new medicines. Our vaccine sales were stable when excluding the effect of last year's COVID sales. The sales of Opella the new name of our consumer health care business grew by 10% with the U.S. Wellness brand Qunol as the main driver in the United States.