Sanofi reported Q4 sales of €11.3 billion, slightly ahead of forecasts, driven by strong pharmaceutical performance. Dupixent continued to outperform, contributing significantly to the €9.26 billion pharma division total. Vaccine sales of €2.04 billion matched expectations, despite softer Beyfortus demand.

The French drugmaker's business operating income rose to €2.34 billion, exceeding the €2.30 billion forecast. Business EPS of €1.53 topped the expected €1.44. A €1 billion share buyback is planned for 2026, reflecting confidence in cash flow generation and capital return capacity.

Looking ahead, Sanofi expects high single-digit sales growth in 2026 at constant exchange rates, aligning closely with consensus. Earnings are seen growing slightly faster than revenue before buybacks. Analysts remain focused on the R&D pipeline for future value drivers.

Investors will watch Sanofi’s ability to sustain Dupixent momentum while navigating vaccine market volatility. Pipeline progress and execution of its buyback plan will be key near-term catalysts.