Sanofi is set to multiply over Covid-19 shot approval

COVID-19

After announcing a jump in fourth-quarter sales and earnings on Friday, Sanofi (SNY) said it still expects its COVID-19 vaccine to obtain approval in the first quarter and help drive additional earnings growth this year.

The company, which is attempting a return after losing its position in the COVID-19 jab race, stated that it aimed to improve earnings per share.

In the three months ending in December, revenues increased by 4.1 percent to 9.99 billion euros, with an EPS of 1.38 euros, up from 1.22 euros in the same quarter the previous year.

At constant exchange rates, its earnings per share increased by 15.5 percent in 2021, compared to a 14 percent increase predicted by the firm.

Sanofi was beaten by newcomers who employed newer mRNA technology to immunize people against coronavirus, despite being one of the world’s largest vaccine manufacturers by sales prior to the COVID-19 pandemic.

Instead, it concentrates on working with British partner GlaxoSmithKline (GSK) to create a COVID-19 vaccine candidate based on a more traditional protein-based approach, which is currently undergoing large-scale trials.

The two partners had hoped to acquire clearance in the first half of 2021, but it was moved back to the end of the year, and in December, they again pushed it back to the first quarter of 2022.

On Friday, Sanofi’s chief financial officer said that the company still expects clearance for the first quarter. Sanofi intends to spin off its consumer healthcare division by the end of 2022.

The S&P/ASX 200 index increased 0.60 percent at the close in Sydney. Gold futures for April delivery rose 3.15 percent to $1807.25 a troy ounce, up 0.17 percent. Crude oil for March delivery rose 0.56 percent, or $0.51, to $90.78 per barrel.

The Australian dollar declined 0.34 percent to 0.7116, while the Australian dollar fell 0.32 percent to 81.82. At 95.275, the US Dollar Index Futures were down 0.11 percent.

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