Sanofi CEO believes company poised for growth from new drugs
Adds CEO comments, details on pipeline assets, obesity, paragraphs 1-9
Sanofi has 12 potential blockbuster assets in immunology and vaccines
Sanofi has undisclosed obesity pipeline assets, making third-party investments
Sanofi still considering spinoff, IPO or sale of Opella consumer healthcare unit
By Michael Erman
NEW YORK, Sept 23 (Reuters) -Sanofi's SASY.PA chief executive, Paul Hudson, said in an interview on Monday that the company is poised for strong growth from a variety of new drugs and is not facing imminent, costly patent expirations of top-selling products as are some rivals.
"We've spent five years as a team getting Sanofi to the start line of being a respected R&D machine, and I think the markets are starting to understand it," said Hudson, who became CEO in September 2019.
Hudson, who is in New York for the United Nations General Assembly, cited recent data for multiple sclerosis drug tolebrutinib, the company's preventive respiratory syncytial virus (RSV) antibody Beyfortus and an expected approval of blockbuster drug Dupixent to treat chronic obstructive pulmonary disease, a potentially deadly lung condition.
Sanofi shares are up around 15% this year. Hudson has been working since last October to build confidence in the stock when he unexpectedly abandoned 2025 margin targets to instead boost spending on drug development.
He said the company has a pipeline of 12 potential blockbuster assets in immunology and vaccines, and no major patent expirations before the end of the decade.
"Finally we've reached a point where our pipeline is balanced towards winning, not losing," he said.
The company has not been a player in the lucrative obesity drug market. Its main competitors in the insulin market, Novo Nordisk NOVOb.CO and Eli Lilly LLY.N, in recent years launched blockbuster weight-loss drugs that have sent their market values soaring.
Hudson said Sanofi does not want to create a "me too" version of GLP-1 drugs like Ozempic or Mounjaro.
"However, let's say it becomes a $100 billion market - it's a bit naive for us to think we wouldn't want to participate," he said. "So we have some programs internally that are not disclosed, and we're making some investments in third parties that have a shot."
Sanofi is also in the process of splitting off its Opella consumer healthcare unit, but has not yet decided which method it will use in that separation. Hudson said he is encouraged by the level of interest in the business, and that Sanofi is interested in keeping a stake in Opella after the separation is done.
Sanofi has said it is considering a spinoff, initial public offering or sale of the unit. Hudson said more value can be achieved via an independent company run by executives with greater focus on the consumer healthcare sector.
"The impression we're getting is it's a good business, and it has a lot of potential ... I would like us to participate in that upside. With the right sort of environment around it, it can flourish. Why would we not stay involved and take that benefit?"
Reporting by Michael Erman in New York; Editing by Matthew Lewis
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