1233 GMT - Sanofi's portfolio awaits proof of improvement as the French drugmaker seeks a research-and-development turnaround to drive a pipeline renaissance, Berenberg's Luisa Hector and Kerry Holford say in a research note. The market reaction to Friday's update from Sanofi and partner Regeneron on experimental respiratory drug itepekimab looks overdone, according to Berenberg. Moreover, Sanofi's pipeline renaissance is driven by a shift toward wholly-owned assets and itepekimab is shared with Regeneron, the analysts say. "While the jury remains out on Sanofi's improving R&D profile, we remain of the view that zero value is assigned to pipeline in Sanofi's share price," the analysts say. Berenberg cuts its target price on Sanofi to 118 euros from 120 euros. Shares fall 1.8% to 85.93 euros. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
June 02, 2025 08:33 ET (12:33 GMT)
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