Sanofi under EU antitrust probe, shares stay in focus on Euronext Paris

Sanofi faces a formal antitrust investigation by the European Commission into a flu vaccine communication campaign, while Deutsche Bank recently adjusted its price target after a solid first quarter.

By Anna Wagner, Analysts & Consensus desk. Reviewed prior to publication on 2026-06-28, 10:06.

Sanofi (FR0000120578) is drawing regulatory and analyst attention at the same time. The French pharma group, whose shares trade on Euronext Paris under the ticker SAN, is the subject of a new European Commission antitrust investigation into a flu vaccine communication campaign, while Deutsche Bank recently cut its price target after strong first quarter figures.

What Brussels is investigating

The European Commission announced on June 26 that it has opened a formal antitrust probe into whether Sanofi restricted competition through a communication campaign related to seasonal flu vaccines in the European Union. According to Commission communications summarized by MarketScreener, regulators are examining whether Sanofi may have discouraged the use of rival flu vaccines in certain national markets.

Newswires including Dow Jones and Reuters reported that the probe focuses on potential anticompetitive practices in the promotion of flu vaccines that could have affected public tenders and healthcare provider choices in EU member states. The investigation comes as European healthcare stocks, including Sanofi and peer companies such as GSK, remain key components of major regional indices like the Euro Stoxx 50.

Analyst view after a strong quarter

On June 15 Deutsche Bank revised its Sanofi valuation, cutting the price target to 95 euros from 100 euros while maintaining a Buy rating on the NASDAQ-listed American Depositary Shares under the ticker SNY. In its accompanying note, the bank pointed to Sanofi's solid first quarter 2026 results as a basis for its positive stance despite the lower target.

For the first quarter of 2026, Sanofi reported sales growth of 13.6 percent at constant exchange rates and business earnings per share of 1.88 euros, with new pharma launches generating 1.2 billion euros in revenue. The blockbuster anti-inflammatory drug Dupixent delivered 4.2 billion euros in sales in the same period, up 30.8 percent year on year, while vaccine revenues grew 2.1 percent to 1.3 billion euros.

The medicines driving Sanofi

Sanofi generates its revenue mainly from prescription medicines, specialty care and vaccines, with immunology and rare disease therapies as key growth pillars. Flagship product Dupixent, developed with Regeneron, has become one of the largest contributors, supported by other launches such as Ayvakit, ALTUVIIIO and Sarclisa cited in recent quarterly updates.

Where the stock trades today

The Sanofi shares (FR0000120578) most recently traded on Euronext Paris around the mid-70-euro range per MarketScreener end-of-day data for June 27, 2026, with the stock also represented in the United States by NASDAQ-listed ADRs under the symbol SNY.

Key data on the Sanofi shares

• Company: Sanofi S.A.
• ISIN: FR0000120578
• WKN: 920657
• Ticker: SAN (Euronext Paris), SNY (NASDAQ ADR)
• Trading venue: Euronext Paris
• Price (as of 2026-06-27, 17:35): 75.17 EUR
• Market cap: approximately 94 billion EUR (as of 2026-06-27)
• Sector / industry: Pharmaceuticals / Biotechnology
• Index membership: CAC 40, Euro Stoxx 50, Stoxx Europe 600
• Next earnings date: not officially scheduled

This article is for information purposes only and does not constitute investment advice or a solicitation to buy or sell any securities.