Sanofi told investors it is targeting later-stage and commercial acquisitions to ensure growth beyond Dupixent’s looming patent cliff. Executives said on the company’s third-quarter earnings call that the strategy is meant to derisk scientifically and clinically while leveraging Sanofi’s commercial capabilities. Belén Garijo said the R&D pipeline will take time to mature and that the company’s balance sheet and cash generation allow access to external financing if needed. Sanofi also reported net sales of €14.4 billion, beating consensus, with Dupixent up 34.8% to nearly €5.7 billion. Analysts are likely to focus on the size, timing, and therapeutic areas of deals as Dupixent accounts for a large share of sales and remains central to the company’s long-term growth plan.