Sanofi Q2 2026 Results: Dupixent Sales Growth Powers Record Second Quarter as Guidance is Upgraded

Sanofi Q2 2026 Results; Dupixent sales growth headlined a strong second quarter for the French pharmaceutical group, as the company reported double-digit revenue gains and lifted its full-year outlook. Sanofi said Q2 2026 net sales rose 17.8% at constant exchange rates to €11,597 million, while business earnings per share climbed 33.3% at CER to €2.09. The results, announced on July 30, 2026, mark one of the strongest quarterly showings in recent periods for the company and its flagship immunology franchise.

At the center of the quarter was Dupixent, the immunology blockbuster that Sanofi co-markets with Regeneron. Sanofi Dupixent sales growth reached 37.6% in the quarter, pushing the medicine’s revenue to €5,154 million and past the €5 billion mark in a single quarter for the first time. The medicine is approved across a wide set of indications, including atopic dermatitis, asthma, chronic rhinosinusitis with nasal polyposis, eosinophilic esophagitis, prurigo nodularis, chronic spontaneous urticaria, chronic obstructive pulmonary disease, bullous pemphigoid, and allergic fungal rhinosinusitis. US sales of Dupixent increased 42.8% to €3,899 million, helped by strong demand, operational improvements, and a favorable adjustment of gross-to-net deductions, while European sales grew 19.4% to €583 million and Rest of World sales rose 26.9% to €672 million.

Chief Executive Officer Belén Garijo tied the quarter’s momentum directly to the medicine’s performance, crediting pharma launches and Dupixent as the two biggest contributors to the double-digit sales and business EPS growth. She added that Sanofi is upgrading its 2026 guidance based on first-half strength while anticipating a normalization of growth in the back half of the year.

Beyond Dupixent, Sanofi’s newer medicines also contributed meaningfully to the quarter. Pharma launch products, a group that includes ALTUVIIIO, Nexviazyme/Nexviadyme, Ayvakit, Sarclisa, Rezurock, Cablivi, Xenpozyme, Tzield/Teizeild, Wayrilz, Qfitlia, and Myqorzo, generated combined sales of €1,305 million, up 48.3% at CER. Ayvakit, a systemic mastocytosis treatment that came into the Sanofi portfolio through the Blueprint Medicines acquisition, contributed €190 million, while ALTUVIIIO, a hemophilia A therapy, grew 23.7% to €349 million as patients continued switching from older factor medicines.

Learn More

Merck 2026 Financial Results: Solid Q1 Performance Triggers Guidance Upgrade

Sarclisa, the oncology medicine for multiple myeloma, posted sales of €187 million, up 35.7%, with Rest of World markets growing 52.5%. During the quarter, Sarclisa’s subcutaneous formulation won regulatory approvals in the US, the European Union, and Japan, giving patients a faster, at-home dosing option alongside the existing intravenous version. Kevzara, Sanofi’s other immunology medicine, grew 35.1% to €177 million on higher use in rheumatoid arthritis and polymyalgia rheumatica. Analysts tracking the stock have repeatedly pointed to Sanofi Dupixent sales growth as the single largest swing factor behind the quarter’s earnings beat.

Together, these launches and Dupixent illustrate why Sanofi Dupixent sales growth has become the shorthand investors use for the company’s broader immunology and rare disease momentum. Rare disease medicines such as Nexviazyme/Nexviadyme, Fabrazyme, Cerezyme, and Alprolix each posted sales above €160 million in the quarter, with Nexviazyme/Nexviadyme up 15.6% to €218 million as patients continued switching from the older Myozyme/Lumizyme therapy.

Not every part of the business grew. Sanofi’s vaccines segment posted sales of €1,150 million in Q2, a decline of 4.7%, largely because influenza vaccine sales in the year-earlier quarter had been unusually high. Influenza and COVID-19 vaccine sales fell 61.7% to €54 million, while meningitis, travel, and endemic vaccines dropped 5.9% to €287 million. Polio, pertussis, and Hib primary and booster vaccines, which now include the newly acquired Heplisav-B, rose 1.4% to €700 million, supported by US sales that jumped 77.2% but offset by weaker demand in Rest of World markets tied to declining birth rates, particularly in China.

One vaccine bright spot was Beyfortus, the respiratory syncytial virus antibody for infants, which grew 54.2% to €108 million as the product expanded into more than 45 countries, including several in the Southern Hemisphere. Even so, the vaccines decline meant that Sanofi Dupixent sales growth, alongside the pharma launch portfolio, had to carry more of the group’s overall expansion this quarter. Other established medicines showed a mixed picture: Toujeo grew 4.4% to €354 million and Praluent rose 19.0% to €164 million, while Lantus declined 7.0% and Lovenox fell 15.8% amid continued biosimilar competition. Without Sanofi Dupixent sales growth and the newer launch medicines, the quarter’s overall revenue increase would have been far more modest.

Learn More

Danaher Corporation Q2 2026 Financial Results; Strategic Capital Allocation, and Market Valuation Dynamics

Pipeline Milestones Accompany Sanofi Dupixent Sales Growth in the Quarter

Sanofi also reported significant pipeline progress alongside its commercial results. The company recorded seven regulatory approvals during the quarter across immunology, rare diseases, oncology, and neurology. The US Food and Drug Administration approved Dupixent for children aged two to eleven years with chronic spontaneous urticaria, expanding on the existing approval for older patients. The FDA also granted accelerated approval to Tzield for children aged eight to seventeen recently diagnosed with stage 3 type 1 diabetes, while Japan’s health ministry approved Wayrilz for chronic immune thrombocytopenia.

In neurology, the European Commission approved Cenrifki for secondary progressive multiple sclerosis without relapses in the past two years, based on results from the HERCULES phase 3 study. Sanofi noted that drug-induced liver injury is an identified risk with Cenrifki and that the medicine will require strict liver monitoring. Two positive phase 3 readouts were also announced: Nexviazyme met its primary endpoint in infantile-onset Pompe disease, and amlitelimab showed positive long-term efficacy in atopic dermatitis, even though Sanofi ultimately decided not to advance the latter medicine to regulatory submission.

Alongside these wins, Sanofi disclosed several strategic pipeline decisions. Amlitelimab will not progress toward global regulatory filing, and the clinical programs for itepekimab in chronic obstructive pulmonary disease and balinatunfib in inflammatory bowel disease were discontinued after failing to meet internal efficacy expectations. Research and development expenses rose 17.9% to €2,233 million in the quarter, reflecting both continued investment and wind-down costs tied to these pipeline prioritizations. Sanofi Dupixent sales growth and continued pipeline discipline are expected to remain twin priorities as the company works through its broader portfolio review.

Upgraded Guidance Reflects Confidence Beyond Sanofi Dupixent Sales Growth

Given the strength of the first half, Sanofi raised its full-year 2026 guidance, now expecting sales to grow by around 10% at constant exchange rates, with business EPS growing slightly faster than sales. Garijo said the upgrade reflects disciplined execution during her first months as chief executive, during which she has focused on an accelerated transformation roadmap, pipeline prioritization, and the appointment of a refreshed executive committee.

Looking further out, Sanofi said it expects Dupixent sales to reach around €25 billion by 2030, complemented by approximately €10 billion in revenue from its pharma launch portfolio, both measured at constant exchange rates. That long-range target underscores how central Sanofi Dupixent sales growth is expected to remain to the company’s strategy well beyond this quarter, and it is a figure investors are likely to revisit at every future earnings check-in tied to Sanofi Dupixent sales growth. On capital allocation, Sanofi completed its €1 billion share buyback program in April, and shareholders approved a dividend of €4.12 per share for 2025, marking 31 consecutive years of dividend increases.

Sanofi also highlighted progress on access and sustainability initiatives during the quarter. The company’s Impact® medicines portfolio, a not-for-profit brand of essential medicines, is now available in 30 underserved countries, supporting a Global Health Unit goal of reaching two million patients with non-communicable disease treatments by 2030. Sanofi additionally expanded its AccesS diabetes program into South Africa and India’s Madhya Pradesh state, and the Democratic Republic of the Congo approved acoziborole, a single-dose treatment for sleeping sickness, following a positive opinion from European regulators earlier in the year.

Q2 & H1 2026 Financial Performance

Key Product Sales. Q2 2026 (€ million, change at CER)

Q2 2026 Regulatory & Clinical Milestones

Anticipated Pipeline Milestones (H2 2026–2027)