Sanofi Posts Strong 3Q as Shares Look Undervalued Despite Increasing Lantus Competition
Sanofi reported strong third-quarter results ahead of our projections,but we don’t expect any significant changes to our fair value estimate, and we
continue to see the stock as undervalued. We believe the market is overly focused
on the challenges ahead for the diabetes franchise while not seeing the strong
competitive positioning and wide moat for the rest of the company.
In the quarter, while diabetes drug Lantus fell 10%
operationally, the strength of the rest of the business led to total ...
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