Press Release: Q1 2026: double-digit sales and business EPS growth

Paris, April 23, 2026

Q1 sales growth of 13.6% at CER¹ and business earnings per share (EPS)² of €1.88

Pipeline progress

Capital allocation

Other major developments

Guidance affirmed

Olivier Charmeil, interim Chief Executive Officer: “We had a strong start to 2026 with double-digit sales and business EPS growth. Sales increased by 13.6%, supported by Pharma launches and recent acquisitions. Dupixent sales were above the €4 billion quarterly mark again and grew by 30.8%. Business EPS was up by 14.0%, reflecting a measured growth of 7.0% in total operating expenses. We obtained five regulatory approvals, all in immunology, achieved one positive phase 3 study readout for venglustat in rare diseases, and reported encouraging phase 2 data for lunsekimig in respiratory diseases. We reiterate our guidance for 2026: we continue to expect sales to grow by a high single-digit percentage and business EPS to grow slightly faster than sales, at constant exchange rates, delivering profitable growth. We are also looking forward to welcoming Belén Garijo as the new CEO of Sanofi from next month.”

¹ Changes in net sales are at constant exchange rates (CER) unless stated otherwise (definition in Appendix 8).
² To facilitate an understanding of operational performance, Sanofi comments on the business net income, a non-IFRS financial measure (definition in
Appendix 8). The income statement is in Appendix 3 and a reconciliation of IFRS net income to business net income is in Appendix 4.
³ World Health Organization.
⁴ Drugs for Neglected Diseases initiative.
⁵ Applying April 2026 average currency exchange rates, the currency impacts are estimated at c.-2% on sales and at c.-3% on business EPS.
⁶ Free cash flow is a non-IFRS financial measure (definition in Appendix 8).

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