Sanofi deepens respiratory franchise as earnings expectations come into focus

GOT

Sanofi is adding commercial depth to its respiratory portfolio in Spain, with developments around Dupixent and Beyfortus coinciding with analyst expectations for higher earnings per share in 2027. Together, the updates provide a useful indication of how the pharmaceutical group is translating established medicines into broader market access and public healthcare demand.

Sanofi and Regeneron have announced the availability of Dupixent in Spain for adults with uncontrolled chronic obstructive pulmonary disease, or COPD, who have elevated levels of eosinophils in their blood. The biological medicine, whose active ingredient is dupilumab, is being incorporated into Spain’s National Health System for use as an additional maintenance therapy in eligible patients whose disease remains inadequately controlled despite inhaled treatment.

The expansion into COPD increases the relevance of Dupixent within Sanofi’s respiratory offering by addressing a defined subgroup of patients with evidence of type 2 inflammation. This gives the company an additional route for extending the medicine’s use while maintaining a targeted clinical approach based on patient characteristics.

The Spanish availability follows Phase 3 studies BOREAS and NOTUS, which evaluated dupilumab in adults with uncontrolled COPD and evidence of type 2 inflammation. In the two trials, treatment was associated with reductions of 30% and 34%, respectively, in the annualised rate of moderate or severe exacerbations compared with placebo after 52 weeks. Improvements were also observed in lung function, symptoms and quality of life.

Expanded reimbursement and availability can move a medicine from regulatory progress towards practical adoption within a national healthcare system. The opportunity will depend on uptake among eligible patients and the extent to which clinicians identify the specific inflammatory profile addressed by the treatment.

Sanofi is also seeing public-sector demand in Spain for nirsevimab, marketed as Beyfortus, which is used to protect infants against respiratory syncytial virus. The Castilla-La Mancha regional health authority has formalised the purchase of 15,000 doses from Sanofi Aventis for the 2026-2027 immunisation campaign. The contract is valued at €3.135 million before VAT and €3.2604 million including taxes.

These commercial developments sit alongside earnings expectations that continue to place attention on Sanofi’s ability to convert its pharmaceutical portfolio into higher per-share profit. Analyst estimates cited for 2026 point to earnings per share of $4.99, rising to $5.38 for 2027. Sanofi shares closed at $44.47 on 2 September 2026.

Global Opportunities Trust plc (LON:GOT) invests globally in undervalued asset classes without reference to the composition of any stock market index.

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