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Sanofi rises after Q3 beat, outlook upgrade

By Reuters News23 hours ago Updated

** French pharmaceutical company Sanofi SASY.PA rises 5.1% after reporting third-quarter results ahead of analyst expectations and lifting its outlook

** The company now expects sales to grow by a "low-teens percentage" this year, up from a previous forecast of 10% sales growth, banking on strong demand for its blockbuster asthma drug Dupixent

** The French drugmaker reported third-quarter business operating income of €5.43 billion, above the company-provided consensus of €4.32 billion

** JPMorgan notes a beat in Dupixent sales, boosted by strong demand and favourable price adjustments in the US

** Jefferies says the sales beat flows through to a better gross margin

** If gains hold, shares are on track for their best day in 12 months, when they closed 8.4% higher

** Up to the previous session's close, shares were down 7.9% year-to-date

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