Sanofi is nearing a sale of a 50% stake in its consumer unit, valued at 16 billion euros in total, to boost clinical trials for next-generation drugs. CEO Paul Hudson's spending plans were initially met with a massive stock market slump a year ago but the shares have rebounded.

French drug maker Sanofi on Friday posted stronger earnings growth than analysts had expected in the third quarter, helped by earlier-than-anticipated sales of seasonal vaccines. Quarterly business operating income,

Sanofi stock rose early Friday after beating third-quarter sales expectations on the back of its vaccine sales.

Sanofi (SNY) stock gains as company exceeds Q3 earnings estimates with strong vaccine and Dupixent sales, and raises its full-year earnings guidance. Read more here.

On Friday, Sanofi SA (NASDAQ:SNY) reported a third-quarter business operating income of 4.61 billion euros ($4.99 billion), up 14.4% year-over-year and 19.9% in constant currency. The company reported third-quarter sales of 13.