Sanofi Signals Appetite for Bigger Deals as Analysts Lift Targets
Published on 11/08/2026 at 06:04 | Editorial boerse-global.de
Sanofi is prepared to look beyond its customary deal size, with finance chief François Roger indicating on 30 October that the French drugmaker would weigh acquisitions above its usual $2–5 billion range. The push is aimed at securing access to late-stage medicines or products already on the market, according to media reports.
Management has framed business development and bolt-on M&A as part of its growth blueprint for the period after Dupixent, the blockbuster immunology drug that anchors the group's earnings. The comments signal a broad willingness to pursue larger transactions rather than any specific target.
Dupixent Drives a Strong Quarter
That willingness rests on a solid operating base. Sanofi reported third-quarter 2026 revenue of €14.44 billion, up 14.3% at constant exchange rates. Dupixent alone contributed €5.7 billion in the period, while adjusted earnings per share came in at €3.55, a constant-currency gain of 19.6%.
The beat on quarterly sales, powered by Dupixent, prompted RBC Capital to raise its price target on Sanofi from €75 to €80 on Monday while keeping a "Sector Perform" rating, per media reports. The broker paired its more generous valuation with caution about the group's development pipeline.
Should investors sell immediately? Or is it worth buying Sanofi?
Pipeline Setbacks Temper the Picture
Those concerns have some grounding. Sanofi has halted development of SAR448272, an experimental STAT6 degrader licensed from Nurix, after new non-clinical findings failed to justify continuing in eczema, the company told Leerink Partners. Nurix expects no further milestone payments or royalties from the programme.
On the vaccine front, a European phase 3 trial of a combined influenza and COVID-19 shot has begun, triggering a $125 million milestone payment to partner Novavax. Novavax said Sanofi intends to launch a US phase 3 study in 2027 as well.
Guidance Raised, Targets Adjusted
Roughly a week before the quarterly update, Sanofi lifted its full-year outlook. For 2026 it now projects constant-currency revenue growth in the low double-digit percentage range and an increase in adjusted EPS in the mid-teens percentage range.
Sanofi at a turning point? This analysis reveals what investors need to know now.
Analysts have been recalibrating accordingly. Morgan Stanley on Tuesday raised its Sanofi price target to €86 from €82 while reaffirming an "Equal Weight" stance — a change in valuation, not in conviction.
Ad
Sanofi Stock: New Analysis - 8 November
Fresh Sanofi information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
