SAN.PA · PEAD ↓ 100

Sanofi reported Q2 2026 EPS of €2.09 on 2026-07-30, beating the €1.90 consensus by €0.19 (+10.0%).

Print-day reaction was -8.9% versus the prior close — a sharp sell-the-news move despite the EPS beat, consistent with guidance or pipeline disappointment absorbing the headline. The overnight gap to the T+1 open partially recovered, adding +2.0%, but fell well short of retracing the print-day drop. Over the following two trading days (T+1 through T+3), price drifted a further -0.1%, offering no meaningful bounce and confirming the market's negative re-rating. Cumulative abnormal return of -12.7% versus SPY.US firmly places this in PEAD short territory; per the documented drift pattern, the read holds through 2026-10-27.