Sanofi’s stock plunged in 2022 after a series of setbacks shook investor confidence. The French pharmaceutical giant reported weaker revenue as it stopped consolidating non-U.S. sales of its cancer drug Libtayo®, shifting instead to a royalty model. At the same time, sales of older blockbusters like Lovenox® and Lantus® fell under pressure from biosimilars, Chinese price controls, and tougher competition in the U.S.
The downturn was worsened by a major pipeline disappointment: the company halted development of its oncology candidate THOR-707, taking a $1.6 billion impairment charge. Sanofi also launched major restructuring, including plans to spin off its consumer healthcare division, creating uncertainty around its long-term strategy.
These combined pressures left 2022 as one of the most challenging years for Sanofi in recent memory, with its share price hitting multi-year lows before recovering in 2023.
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