Yahoo Finance Sanofi (NASDAQ:SNY) Q4 2023 Earnings Call Transcript
Sanofi (NASDAQ:SNY) Q4 2023 Earnings Call Transcript February 1, 2024
Sanofi misses on earnings expectations. Reported EPS is $0.89 EPS, expectations were $0.94. Sanofi isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).
Eva Schaefer-Jansen: Good morning, good afternoon and good evening to everyone. Thank you for joining us to review Sanofi's Fourth Quarter and Full Year 2023 Results, followed by a Q&A session. As usual, you can find the slides to this call on the Investors page of our website at sanofi.com. Moving to Slide 3, I would like to remind you that 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 d’Enregistrement Universel for a description of these risk factors. With that, please advance to Slide 4. Our speakers on the call today are Paul Hudson, Chief Executive Officer; Houman Ashrafian, Global Head of R&D; Jean-Baptiste de Chatillon, Chief Financial Officer; and the Global Business Unit Heads, Brian Ford, Thomas Triomphe, Olivier Charmeil, and Julie van Ongevalle.
For the Q&A, you have two options to participate. Option one, click the Raise Hand icon at the bottom of your screen or option two, submit your question by clicking the Q&A icon at the bottom of the screen. And with that, I'd like to turn the call over to Paul.
Paul Hudson: Well, thank you, Eva. And thanks, everyone, for joining our call today. Before we discuss the Q4 highlights, I'm going to start by updating you on another announcement we made this morning. Francois-Xavier Roger will join Sanofi taking over the role of CFO effective April the 1st, 2024. I'm very pleased to welcome him at Sanofi. He is an accomplished and widely recognized finance executive with a proven track record in accelerated value creation. In fact, some of you may have met him already before either in his role at Nestle or in the past at Takeda. He'll take over a finance organization that has been significantly modernized under JB's leadership over the past five years. JB has been instrumental for the successful execution of the first chapter of our Play-to-Win strategy and creating the growth opportunities ahead of us.
With JB at the helm of our finance team, we have consistently delivered healthy top-line growth over the last few years, a significant BOI margin improvement and EUR2.7 billion of cost efficiencies that were all reinvested behind our growth drivers and pipeline. He also worked closely with Olivier and Julie on the simplification of GenMed and the standalone of our consumer health business, two critical projects that have delivered significant value for the company and shareholders. Many of you may not be aware about JB's long-standing personal commitment to charity work. He decided to devote the next stage of his career by leading a renowned French-based foundation and I'm 100% certain of the positive impact JB will continue to have on people's lives.
I would like to take the opportunity here to warmly thank him for his dedication and leadership. He's been a great partner to me and dare I say it, a friend, and to the rest of the executive committee. Thank you, JB. 2023 marked a pivotal year for Sanofi as we became a development driven, tech powered biopharma company. Our core growth drivers in specialty care and vaccines continue to deliver. The main driver remains Dupixent, which continued to deliver stellar performance in all approved indications and across geographies. Dupixent added EUR2.4 billion to the top line or EUR2.8 billion at constant exchange rate. 2023 also marks a very successful year for our Vaccine business with the launch of Beyfortus, a real moment for our strategy and execution.
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