New Street Research - Sanofi (SAN) Sanofi - Set to Enter the Obesity Space? (BUY, TP EUR120, 10 pgs)

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Dominic Rose ...

Naresh Chouhan

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Sanofi - Set to Enter the Obesity Space? (BUY, TP EUR120, 10 pgs)

As the market mulls the impact of the Opella deal, we consider how Sanofi may deploy the €8bn of cash. We believe entering into the obesity space by acquiring rights to an amylin asset would be a smart deal for Sanofi given: 1) The timing of the Dupixent patent loss, 2) SAN’s drug development expertise in cardiometabolic, 3) SAN’s significant ex-US cardiometabolic footprint, 4) SAN’s US rebating expertise, & 5) Its significant manufacturing expertise, which is proving to be crucial. We believe investors would view such a deal favourably. BUY
For access to the full note, please contact Naresh Chouhan ( )

28/10/2024 1 EN

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.

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New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

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Analysts

Dominic Rose

Naresh Chouhan

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Sanofi - Set to Enter the Obesity Space? (BUY, TP EUR120, 10 pgs)

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