Core Insights - The Polish Presidency of the EU Council emphasizes health policy as a central element of Europe's strategic agenda, focusing on healthcare resilience and digital transformation [1] - Sanofi advocates for a shift from reactive treatment to proactive prevention strategies, highlighting the economic benefits of investing in prevention [2] - The importance of innovation in healthcare systems is underscored, with a call to close the innovation gap and adopt advanced technologies for Europe's long-term prosperity [3][4] Group 1: Prevention and Economic Impact - Sanofi's investment in prevention yields significant returns, with every €1 invested bringing €14 back, and up to €19 for adult immunization [2] - Real-world evidence shows an 80% reduction in winter hospitalizations among infants due to RSV immunization, emphasizing the effectiveness of prevention [2] - Chronic respiratory diseases are a major public health concern in Europe, affecting over 36 million people and accounting for 6% of healthcare expenditure [2] Group 2: Innovation and Competitiveness - The need for Europe to rebuild its leadership in pharmaceutical innovation is critical, as global R&D investments are shifting away [4] - Collaboration between industry and academia, support for emerging biotechnologies, and a conducive regulatory environment are essential for fostering innovation [4] - Digital health and data-driven research are highlighted as transformative elements for strengthening healthcare systems and economic future [3] Group 3: Human Dimension of Innovation - Scientific progress must translate into improved lives for individuals and communities, with a focus on immunization as a key tool [5][6] - The mission is to transition healthcare from treatment to prevention, with immunization saving 154 million lives globally over the past 50 years [6] - Prevention and immunization should be viewed as economic stabilizers, emphasizing the need for a model built on innovation and long-term strength [7]

Core Insights - Johnson & Johnson remains the top revenue-generating pharmaceutical company with projected 2024 revenue of $88.8 billion, a 4% year-over-year increase [1][3] - The CEO compensation landscape has shifted, with Eli Lilly's CEO David Ricks now the highest-paid in the industry, earning $29.2 million in 2024, a 10% increase from 2023 [4][6] - The pharmaceutical industry is facing challenges from biosimilars, particularly affecting sales of established drugs like Humira and Stelara [2][1] Revenue Rankings - Johnson & Johnson leads with $88.8 billion in revenue, followed by AbbVie at $65.3 billion and Merck at $64.2 billion [3] - Other notable companies include Pfizer with $63.6 billion, and AstraZeneca with $54.1 billion, showing varying growth rates [3] CEO Compensation - Eli Lilly's David Ricks has surpassed Johnson & Johnson's Joaquin Duato, whose compensation decreased by approximately 14% to $24.6 million in 2024 [4][6] - Pfizer's CEO Albert Bourla earned $24.6 million, reflecting a 14% increase, while Merck's Robert Davis earned $23.2 million, also up by 14% [5][6] - Notably, Bristol Myers Squibb's CEO saw the highest percentage increase in compensation, rising by 122% [4][6] Market Dynamics - AbbVie's Humira faced a 37.6% decline in sales to $8.9 billion due to biosimilar competition, but its successors Skyrizi and Rinvoq are projected to generate over $17 billion in 2024 [2] - Merck's Keytruda and Gardasil are expected to account for approximately 59% of the company's total sales in 2024, highlighting the importance of these products [2]

Core Points - The document provides information regarding the total number of voting rights and shares of Sanofi as of March 31, 2025 [1] - Sanofi has a registered share capital of €2,452,461,656 and is registered at the Paris Commercial and Companies Registry [1] Summary by Category Voting Rights and Shares - Total number of issued shares as of March 31, 2025, is 1,233,737,221 [1] - The number of real voting rights, excluding treasury shares, is 1,351,370,330 [1] - The theoretical number of voting rights, including treasury shares, is 1,366,610,643 [1]

Core Viewpoint - The vaccine sector is experiencing a decline in stock prices following reports of a significant policy change by the FDA, which will require all new vaccines to undergo placebo-controlled clinical trials before approval [1][2]. Group 1: Market Reaction - Major vaccine companies such as GSK, Sanofi, Merck, AstraZeneca, Pfizer, BioNTech, Moderna, and Novavax have seen stock declines ranging from over 1% to more than 3.7% [1]. - Specifically, Moderna's stock dropped over 3.7%, while BioNTech fell more than 2.5% [1]. Group 2: Regulatory Changes - The FDA plans to implement a new policy requiring all new vaccines to include a placebo group in clinical trials, marking a significant shift in the vaccine approval process [1]. - This policy mandates that new vaccines must undergo safety testing with a control group receiving an inactive substance, such as saline, for comparison [1]. Group 3: Scope of the New Policy - There is uncertainty regarding the definition of "new vaccines," but it is reported that the policy is unlikely to apply to flu vaccines, which have a long-established safety record [2]. - The HHS has not clarified whether vaccines that have already completed safety studies will be subject to re-evaluation under this new policy, focusing mainly on COVID-19 vaccines in their response [2].

Company Overview - Sanofi has completed the sale of a 50.0% controlling stake in its consumer healthcare business, Opella, to CD&R, while retaining a 48.2% stake [1] - The transaction generated approximately €10 billion in net cash proceeds for Sanofi [1] Opella's Position and Strategy - Opella is now an independent global leader in consumer healthcare, positioned for long-term success with a strong brand portfolio and international reach [3][5] - The company employs over 11,000 people and operates in 100 countries, with 13 manufacturing sites and four development centers [5] - Opella is the third-largest player in the OTC and vitamins, minerals & supplements market, serving over half a billion consumers globally [5] Future Outlook - CD&R aims to support Opella in becoming a global consumer health champion, leveraging its expertise in the consumer health sector [4] - Opella is focused on unlocking its full potential and driving value creation through innovation and exceptional talent [5]

Core Points - Sanofi has expanded its partnership with McLaren Racing and United Autosports to raise awareness about meningitis during the 24 Hours of Le Mans race [2][3] - The Meningitis Flag will be prominently displayed on the 59 McLaren car and worn by team drivers, aiming to increase global awareness of meningitis [2][3][5] - The initiative highlights the importance of vaccination, early detection, and symptom awareness in combating meningitis, especially in light of rising cases post-COVID-19 pandemic [3][5] Company and Industry Insights - Every 15 seconds, someone contracts meningitis, with bacterial meningitis being particularly severe and potentially fatal within 24 hours [3] - The partnership between Sanofi and McLaren Racing began in 2022, leveraging McLaren's digital and analytical expertise to enhance Sanofi's manufacturing operations [8] - The Le Mans race attracts over 300,000 attendees and has more than 140 million viewers, providing a significant platform for raising awareness [8]

Core Points - Sobi, in collaboration with the World Federation of Hemophilia (WFH) and Sanofi, has signed a contract to support the WFH Humanitarian Aid Program for up to five years, focusing on medicine donations and financial assistance [1][3] - The commitment includes the donation of up to 100 million international units (IU) of factor therapy annually to be distributed to developing countries [2] - Over the past decade, Sobi and Sanofi have provided one billion IUs of treatment products, benefiting 22,219 individuals with inherited bleeding disorders [3][4] Company Contributions - Sobi and Sanofi's partnership has been ongoing for over ten years, demonstrating a strong commitment to improving care for people with hemophilia globally [1][3] - The new agreement aims to create a predictable and sustainable program that addresses unmet needs and enhances the standard of care for hemophilia [5] - The contributions from Sobi and Sanofi have significantly expanded treatment availability and improved patient outcomes in developing countries [5][6] Humanitarian Aid Program - The WFH Humanitarian Aid Program aims to provide essential support for individuals with inherited bleeding disorders in developing countries, ensuring consistent access to treatment [8] - The program is a collaborative effort that has transformed patient care and elevated the capacity of healthcare professionals worldwide [6][8] - The vision of the WFH is to ensure that all individuals with inherited bleeding disorders have access to necessary care, regardless of their circumstances [9]

Financial Data and Key Metrics Changes - The company reported a 9.7% increase in net sales at constant exchange rates, reaching EUR 9.9 billion, primarily driven by Dupixent, new product launches, and favorable phasing in vaccines [19][20]. - Gross margin improved significantly to 78%, up 2.3 percentage points from the previous year, attributed to an improved product mix and efficiencies [20]. - Business EPS was EUR 1.79, reflecting a 15.7% increase, confirming expectations for a strong EPS rebound in 2025 [21]. Business Line Data and Key Metrics Changes - New product launches generated EUR 1.1 billion in sales, contributing 11% to total sales, driven by the phasing and expansion of Befortis [7]. - Dupixent sales grew by 20% in Q1, reaching EUR 3.5 billion, with U.S. sales at EUR 2.5 billion, up 18% [8][9]. - The vaccine business delivered double-digit growth in Q1, supported by favorable phasing and new country launches [14]. Market Data and Key Metrics Changes - Outside the U.S., Dupixent sales exceeded EUR 1 billion for the first time, with significant contributions from Japan, China, and Germany [9]. - The company is focused on improving immunization rates in the U.S. for infants, with a vaccination coverage rate of approximately 55% to 60% during the 2024-2025 season [78]. Company Strategy and Development Direction - The company aims to invest in R&D, sales and marketing, industrial assets, AI, and talent to drive organic growth [22]. - A progressive dividend policy is maintained, marking the 30th consecutive year of dividend increases [24]. - The company is executing a EUR 5 billion share buyback program in 2025, with 76% already completed [24]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in Dupixent's growth across markets and all approved indications, highlighting low bio penetration [10]. - The company anticipates stable sales for launches in 2025, despite a higher baseline due to competitor product unavailability [25]. - Management acknowledged foreign exchange impacts estimated at around -1.5% on sales and -2% on EPS for the full year 2025 [26]. Other Important Information - The company obtained FDA approval for QFIPIA in hemophilia, one of three potential launches this year [8]. - The company is exploring external growth opportunities through bolt-on acquisitions, including the acquisition of a promising molecule from Dren Bio [22][23]. - The company is committed to aligning health outcomes with environmental and social responsibility through its updated sustainability strategy [16][17]. Q&A Session Summary Question: Can you provide insights on the efficacy of amlitelimab compared to Dupixent? - Management emphasized their commitment to Dupixent and noted that while amlitelimab missed its primary endpoint, compelling data in multiple subgroups supports its development [53][54]. Question: What is the strategy regarding the combination of balantinofib with other therapies? - Management confirmed plans for combination therapies, highlighting the potential for synergistic effects with existing treatments [56][57]. Question: How is the company addressing the immunization rates for RSV in the U.S.? - Management noted that the vaccination coverage rate is around 55% to 60% and emphasized the need to increase this rate to protect infants [78][79]. Question: What are the expectations regarding the impact of U.S. tariffs on the company? - Management stated that there are no specifics to share regarding U.S. tariffs but confirmed readiness to address any developments [93]. Question: How does the company view the competitive positioning of its pipeline? - Management expressed confidence in the competitive positioning of their pipeline, particularly with the potential of new therapies like Bribekamig [111][112].

Business Finance Pipeline Appendices Results Q1 2025 April 24, 2025 Business Finance Pipeline Appendices Forward-looking statements This document contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are statements that are not historical facts. These statements include projections and estimates and their underlying assumptions, statements regarding plans, objectives, intentions, and expectations with respect to future ...

Core Insights - Sanofi reported first-quarter 2025 adjusted earnings of 94 cents per American depositary share, exceeding the Zacks Consensus Estimate of 90 cents per share, with earnings of €1.79 per share rising 17.0% on a reported basis and 15.7% on a constant currency rate [1][20] - Net sales increased by 10.8% on a reported basis to $10.42 billion (€9.9 billion), but fell short of the Zacks Consensus Estimate of $10.63 billion, with a 9.7% rise on a constant currency basis [2][19] Financial Performance - Dupixent sales reached €3.48 billion, up 20.3% year over year, driven by strong prescription trends across all geographies, surpassing model estimates [4] - Sales of Altuviiio, a new rare blood disorder drug, were €251 million, showing growth from €230 million in the previous quarter, with over 87% of sales in the U.S. [8] - Total vaccine sales increased by 11.4% to €1.33 billion, driven by favorable sales of Beyfortus [15] Product Performance - Dupixent sales in the U.S. rose 18.4%, with significant growth in Europe (23.5%) and the Rest of the World (26.5%) [5][6] - Sales of Nexviazyme/Nexviadzyme were €195 million, up 26.3% year over year, while Myozyme sales declined 29.8% to €135 million due to patient switches [9][10] - In neurology, Aubagio sales fell 37.3% to €65 million due to generic competition, while Sarclisa sales rose 26.4% to €136 million [13] Future Outlook - Sanofi maintained its 2025 guidance, expecting sales to rise by a mid-to-high single-digit percentage at constant currency and earnings to rebound strongly with low double-digit percentage growth [18] - The company anticipates three potential new drug launches this year, including Qfitlia/fitusiran, which was approved for treating hemophilia A and B [21] - Sanofi is on track to separate its Consumer Healthcare unit, creating a publicly listed entity called Opella [22]