Dupixent: the asset that worries Sanofi

Sanofi, the French pharmaceutical flagship and a global leader, is present in more than 90 countries. In 2025, the group generated revenue of around 44 billion euros. But this performance conceals a major strategic vulnerability: its dependence on Dupixent (an antibody used against inflammatory diseases). The drug, developed in partnership with Regeneron, generated close to 15.7 billion euros in sales in 2025, with reliable growth across various clinical indications, making it a pillar of the group''s revenue.

However, this positive momentum is accompanied by structural uncertainty: the expiry of the key patents around 2031 jeopardises Dupixent''s commercial exclusivity and its ability to maintain high margins. Investors and financial analysts highlight this as a vulnerability factor.

Sanofi is trying to mitigate this risk through new product launches, strategic acquisitions and the expansion of Dupixent''s indications, but the post-2031 period remains a point of attention. Dependence on a single blockbuster illustrates a fragility in the pharmaceutical value chain and underscores the need for portfolio diversification to ensure the lasting resilience of the French giant.