sanafi stocks“>stock gained momentum when the world's third-largest pharmaceutical company announced its surprising performance in the third quarter of 2022 through sales revenue and profits that hovered around a certain level of change. The company was able to achieve these results thanks to the rapid growth in sales of its vaccines in the first months and the steady performance of its product lines.
The French pharmaceutical company reported a 14.4% increase in operating income to €4.6 billion, more than the €4 billion expected by analysts. Vaccine sales were particularly strong, rising to €3.8 billion, an increase of 25.5%, well above the €3.2 billion previously reported. The initial distribution of the flu vaccine and the new children's RSV treatment, Beyfortus, were the main drivers of the impressive quarterly result.
Sanofi increases Dupixent sales by 23.8%
The company reported a 23.8% increase in sales of its leading treatment drug, Dupixent, which is anti-inflammatory. Dupixent earned 3.48 billion euros, a figure slightly higher than analysts' expectations and which offers even more benefits, since it has recently received the green light for a new indication in lung diseases.
sanafi is close to selling most of its consumer health business Opella, in a sensational strategic move. The contender for the shares is American investor Clayton Dubilier & Rice. Given that the cost of the shares is around €16 billion, this sale will allow the company to invest in advanced clinical drug research, supporting the CEO's plan to specialize in so-called next-generation drugs.
Market reactions have been positive. JP Morgan experts predict an increase of 3-5% in Sanofi shares. Sanofi is expected to post a small profit in 2024 with the expansion of its core business. In response to this, the most substantial growth will occur in 2025 as a result of its cutting-edge portfolio.
Sanofi Stock Chart Analysis
SNU/USD 15-minute chart
During Recent Sanofi Actions performance review, it's pretty obvious that this stock has been under pressure over the past few years. The stock reached the highest point of $55.04 before falling, which became even more pronounced in recent sessions. The price currently stands at $52.07, showing a deviation of 0.21% from the previous value of the day. This was the biggest drop in stock price starting a little before October 18, with the stock being the highest at $55.
The biggest change was seen on October 24, when the stock hit its lowest level of just $50.01, before making little progress. In fact, the price has risen a bit, but we are still seeing it struggle to rise. This deep sell-off may be due to broader market concerns or investor response to Sanofi's cost-cutting plans, including a decision to spin off its consumer health division.
With Sanofi stock fluctuating just above the $50 mark, it's important to note that this psychological level is important. If Sanofi shares fall beyond this psychological level, this could encourage further selling. However, for the rest of us who prefer to look at the bigger picture, this could also be a time to buy at a lower price, especially as Sanofi appears to focus more on vaccines and specialty drugs.
Overall, we are in a phase of inconsistency in Sanofi stock as critical support levels have been tested. This could lead to additional losses or a possible recovery, depending on market sentiment.
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