Revenue from Contracts with Customers (Tables)

6 Months Ended

Jun. 30, 2025

Summary of Net Sales by Segment and Geographical Area

The table below sets forth net sales for the six months ended June 30, 2025 and June 30, 2024:


(€ million)		Europe		United States		Other countries		June 30, 2025		Europe		United States		Other countries		June 30, 2024 (a)

Total Group			4,144		9,535		6,210		19,889		4,072		8,292		5,996		18,360

Immunology

of which	Dupixent		944		5,283		1,085		7,312		770		4,437		931		6,138

Rare diseases

of which	ALTUVIIIO		—		456		86		542		—		259		21		280

	Nexviazyme/Nexviadyme		132		195		60		387		95		174		51		320

	Cablivi		55		71		10		136		43		60		10		113

	Xenpozyme		44		47		19		110		24		37		11		72

Neurology

of which	Aubagio		40		76		22		138		95		96		18		209

Oncology

of which	Sarclisa		83		119		74		276		64		100		63		227

Other medicines

of which	Rezurock		23		220		20		263		12		188		7		207

	Tzield		1		27		1		29		1		20		—		21

Industrial sales			241		1		9		251		273		1		—		274

Vaccines

of which	Polio/Pertussis/ Hib Vaccines		223		320		818		1,361		248		311		789		1,348

	Meningitis, travel and endemics vaccines		96		319		194		609		97		301		185		583

	RSV vaccine (Beyfortus)		85		68		203		356		7		116		77		200

	Influenza Vaccines		52		54		108		214		30		16		142		188

Total net sales			4,144		9,535		6,210		19,889		4,072		8,292		5,996		18,360

(a)	Figures for 2024 comparative period have been re-presented on a consistent basis to reflect the classification of Opella as a discontinued operation.

Disclosure of Other Revenue



(€ million)	June 30, 2025 (6 months)		June 30, 2024 (6 months) (a)

VaxServe sales of non-Sanofi products		842		854

Sales to Opella (b)		61		95

Royalties		68		62

Other (c)		275		341

Total Biopharma Other revenues		1,246		1,352

Sales / Revenues from Opella products (d)		206		177

Total Other revenues		1,452		1,529

(a)	Figures for the 2024 comparative period have been re-presented on a consistent basis to reflect the classification of Opella as a discontinued operation.

(b)

Revenues generated from the manufacture of Consumer Healthcare products on behalf of Opella entities. Until April 30, 2025, Opella entities were within the scope of discontinued operations (see Note B.1). With effect from May 1, 2025, Opella entities are treated as related parties in accordance with IAS24 (see Note B.5.).

(c)	This line mainly comprises revenues received under agreements for Sanofi to provide manufacturing services to third parties.

(d)

Consumer Healthcare activities not transferred on the effective date of loss of control of Opella. These are primarily (i) hospital sales of Opella products in China, the transfer of which will be finalized no earlier than 2028; (ii) sales made by the dedicated entity Opella Russie, of which Sanofi continues to hold the capital (Sanofi is continuing to distribute Opella products in Russian territory under a distribution agreement signed in connection with the separation, the parties reserving the right to discuss the transfer of that entity during the term of the distribution agreement); and (iii) sales of the Gold Bond product range, which are continuing in the United States through the retained subsidiary Gold Bond LLC (holder of the associated worldwide property rights).