Sanofi started 2022 on a good note, with solid growth being witnessed across the divisions. In Q1, Dupixent continued its good run, and was well-complemented by a recovering Consumer Healthcare business. While the individual Vaccines performance was slightly mixed, it remains well-poised to capitalize on recovering demand post the COVID-19 disruption. Overall, the firm’s transformation journey remains on track and, hence, our positive stock recommendation is maintained.
