A 26.2% increase in sales for anti-inflammatory blockbuster Dupixent (dupilumab) ensured Sanofi had a strong Q3, despite the company’s vaccine sales declining amid shifts in US policy.
Sanofi is known for its diverse vaccine portfolio, headed by flu, Covid-19, and respiratory syncytial virus (RSV) jabs. Sales for vaccines dropped by 7.8% to €3.4bn in Q3 2025 compared to Q3 2024, with the French drugmaker pointing particularly to lower influenza sales. Reduced influenza sales were attributed to market pressures and lower US vaccination rates early in the season.
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In a Q3 conference call, Sanofi CEO Paul Hudson said: “This performance compares to a high base in the previous year and reflects the competitive pricing pressure as well as the lower flu immunisation rate in the US.”
Thomas Triomphe, who heads Sanofi’s vaccine division, said: “Although we’re still in October, it’s fair to say that the immunisation rate has been on the soft side when it comes to flu vaccination, particularly in the US.”
Despite this and the pricing pressures, the latter mainly originating from Germany, Triomphe added that Sanofi is “keeping very strong market share performance”.
Vaccines are currently a source of uncertainty in the pharma industry, primarily due to the modality being a consistent target for reform by President Trump’s administration. US Health Secretary Robert F Kennedy (RFK) Jr has overseen several changes to the regulatory vaccine landscape in the country.
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By GlobalDataAmid the sector’s volatility, immunisation rates have fallen. Data from July 2025, reported by the CDC, indicated that childhood vaccination rates in the country are continuing to decrease, with vaccination exemptions reaching an all-time high.
“There might be a little bit of negative feeling about vaccines overall. A little bit of negative buzz around vaccines,” Sanofi’s chief financial officer François-Xavier Roger said on a media call, as per Reuters.
Despite its vaccine business stuttering, soaring sales for Dupixent meant Sanofi still enjoyed a strong quarter. Q3 sales increased by 26.2% to €4.2bn for the monoclonal antibody, meaning it broke the €4bn ceiling for the first time in a single quarter. The drug’s sales helped push Sanofi’s total sales to €12.4bn, up 7% from the same period in 2024.
Dupixent is set to continue providing a major revenue stream for Sanofi, with the drug expected to lose patent protection in 2031. In that year, Dupixent, which is co-marketed with Regeneron, is forecast to generate global sales of $25.4bn, according to GlobalData’s Pharma Intelligence Center.
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However, Sanofi is still eyeing profit avenues beyond Dupixent. The company increased research spending by 4.9% in Q3 and spent $470m to acquire Vigil Neuroscience in an Alzheimer’s disease push. The Vigil deal closed in August 2025.
US pricing discussions “ongoing”
Sanofi is continuing talks with the US government over drug pricing, as Trump looks to overhaul the costs of prescription medicine in the country.
Sanofi was one of a slew of big pharma companies that received a letter from Trump urging internal actions to cut drug prices.
“We’ve had ongoing dialogue with the US government, and indeed, multiple governments, since before we received the letter back at the end of July,” Hudson said.
Hudson’s remarks echoed those made by Roche’s CEO Thomas Schinecker on 23 October during a Q3 conference call.
Pfizer and AstraZeneca became the first major pharma companies to sign deals with Trump.
