The company's specialty care business grew more than 17%, mostly because of an anti-inflammation drug called Dupixent. First approved in the U.S. in 2017, Dupixent quickly became Sanofi's top seller. Net sales of the drug reached 858 million euros for the most recent quarter, a 70% increase which may help Sanofi support its prediction that the brand will eventually deliver 10 billion euros in annual sales.
Yet Sanofi's reliance on Dupixent also poses a problem for investors. If the product were to run into any serious obstacles, it would put a key source of revenue at risk. On an earnings call Wednesday, Credit Suisse analyst Jo Walton asked about U.S. drug pricing reform — the "elephant in the room" — and how recently announced executive orders could affect Dupixent.