Sanofi (NASDAQ:SNY) Q3 2023 Earnings Call Transcript October 27, 2023
Eva Schaefer-Jansen: [starts abruptly] You have joined the meeting as an attendee and will be muted throughout the meeting. This meeting is being recorded. 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 this, please advance to slide 4. Our speakers on the call today are Paul Hudson, Chief Executive Officer, Jean-Baptiste de Chatillon, Chief Financial Officer, Houman Ashrafian, Global Head of R&D, and Julie Van Angeval, Global Business Unit Head, Consumer Health Care.
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The Global Business Unit Heads Brian Ford, Thomas Triomphe, and Olivier Charmeil will join for Q&A to which you have two options to participate. [Operator instructions]. And with that, I’d like to turn the call over to Paul.
Paul Hudson: Well, thank you, Eva, and thanks to everyone for joining our call today. Before we discuss this quarter’s highlights, I want to start by updating you on other announcements we made this morning. We’ve reached an exciting moment in the transformation of our Company here at Sanofi. Our play to win strategy is working and we’ve made significant progress over the past years to transform our R&D efforts with a sharp focus on best in class or first in class medicines and vaccines. These efforts are reflected in our results. We’re driving solid performance, seeing strong market demand for our recent launches, and advancing our innovative pipeline. Sanofi has delivered an unprecedented cadence of positive news and data readouts this year.
We see significant growth potential in our pipeline on increasing our R&D investment accordingly to ensure we fully capitalize on the growth opportunities ahead of us. Houman Ashrafian, our new Head of R&D, will share his vision and first impressions in a few minutes. This morning, we’re also announcing an important next step in our journey, our intention to separate the Sanofi consumer healthcare business at the earliest in Q4 2024, through the creation of a publicly listed entity headquartered here in Paris. This milestone is a win-win. It allows Sanofi to become a pure play by a pharma Company. We’ll be more agile, more focused on our key areas of strength. At the same time, it allows Sanofi CHC to be in a better position to pursue its own business strategy, resourcing and capital allocation.
You’ll hear more from Julie van Ongevalle later on the call. We’re excited by these new developments that will unlock value, coupled with the current strong business momentum with increasing sales from our growth drivers in specialty care and vaccines. No meaningful LOEs until the end of the decade. Unexpected benefits from accelerated investments in R&D. We will discuss these strategic announcements in more detail later on the call, but let me now turn to a brief review of the quarter three results that exemplify our successful strategy execution towards sustainable growth from innovative medicines. We delivered another quarter of double digit growth in specialty care, mainly driven by the outstanding success of Dupixent and our performance in rare diseases.
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