Sanofi captures the majority economics of Dupixent post-2025 cost-sharing reset with Regeneron, providing structural earnings growth. Beyfortus RSV monoclonal continues to dominate the infant market. Vaccine portfolio (Sanofi Pasteur) benefits from continued public health emphasis. Consumer health separation removes a noisy segment. Valuation discount to peers looks unwarranted.
Signals scoped to FR · Company-specific tagging coming soon.