Report
Eric Le Berrigaud

Sanofi | BUY-Top Picks, EUR83 |La Croissance, C'est Maintenant !

Une vague de lancements que n'a pas connu Sanofi depuis 2001. Lantus aura été le dernier produit significatif lancé par Sanofi il y a plus de 15 ans. Le flux important de nouveaux produits mis sur le marché depuis 2017 permettra d'ajouter, selon nous, plus de 9 MdsEUR de CA d'ici à 2022. Ceux-ci seront majoritairement des produits de spécialité conduisant à une évolution favorable du mix et des marges. Nous estimons que celles de la division Pharmacie passeront de 35% en 2018 à 38% en 2022.
Underlying
Sanofi

Sanofi is an integrated, global healthcare company focused on patient needs and engaged in the research, development, manufacture and marketing of healthcare products. Two segments make up Co.'s business: Pharmaceuticals and Vaccines. The Pharmaceuticals segment covers research, development, production and marketing of medicines, consisting of flagship products, plus a broad range of prescription medicines, generic medicines, and consumer health products. The Vaccines segment includes research, development, production and marketing of vaccines in five areas: pediatric vaccines, influenza vaccines, adult and adolescent booster vaccines, meningitis vaccines, and travel and endemic vaccines.

Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Eric Le Berrigaud

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