Sanofi transitioned from steady performance to rapid profit acceleration in 2025, largely driven by its flagship biologic Dupixent’s global approvals and launches in COPD and other inflammatory diseases. The company’s robust clinical pipeline, including positive Phase 2b results for Duvakitug and breakthrough therapy designations for rilzabrutinib, reinforces its biologics leadership. A sudden CEO change in early 2026 injected uncertainty, while disciplined capital allocation continues with significant share buybacks supported by solid liquidity and risk management. Investors should watch upcoming trial readouts and regulatory milestones amid persistent risks like clinical uncertainties and foreign exchange exposure.