Sanofi will take a more careful approach to advancing drugs into late-stage development, new CEO Belén Garijo said on July 30 during a press call presenting the company’s second quarter earnings results. Garijo said Sanofi will ensure that only candidates with strong supporting data from earlier trials move forward into Phase 3.
“I want to make sure that the data that we have coming from Phase 2 studies—or Phase 1b, depending on the therapeutic area—will justify the significant commitment of capital,” Garijo told reporters. She added that Sanofi “will have a realistic view of the potential of the asset in order to make a fact-based decision” about whether to advance programs into late-stage studies.
Garijo also described a “very rigorous portfolio prioritization process,” but did not specify if this would lead to discontinuing any particular products. “We don’t have a target number of products to discontinue,” she said. However, she noted, “we are going to look very deeply at our current late-stage portfolio, and we will decide on scientific merit, potential to create long-term value and, obviously, ensuring the right risk profile of our pipeline moving forward.”
Recently, Sanofi ended all but one clinical study for amlitelimab, an investigational antibody previously tested in several atopic dermatitis trials. Only its celiac disease study remains ongoing, with results expected later this year. As a result of these changes, Sanofi reported an impairment loss of €952 million ($1.1 billion) for the second quarter.
The company also announced it would no longer develop two other assets: IL-33 blocker itepekimab and oral TNFR inhibitor balinatunfib. Itepekimab showed mixed results in chronic obstructive pulmonary disease, while balinatunfib failed in psoriasis trials.
Despite these setbacks, Sanofi recorded net sales growth of 17.8% year-on-year for the period, with €11.6 billion ($13.3 billion) in revenue. Dupixent remained its top-selling product at nearly €5.2 billion ($6 billion), accounting for about half of quarterly revenue and projected by CFO François Roger to reach €25 billion ($28.6 billion) by 2030.
Looking ahead, Garijo was noncommittal regarding large mergers or acquisitions, but said Sanofi would be "looking for opportunities that fit our strategic imperatives" while remaining disciplined with dealmaking.
