Company: SNY
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0001121404-25-000010
Chunk: 423

Company: Sanofi
Filing Date: 2025-02-13
Form: 20-F
Chunk 423
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• the MSD contingent consideration liability arising from the 2016 acquisition of the Sanofi Pasteur activities carried on within

the former Sanofi Pasteur MSD joint venture, which amounted to € 72million as of December 31, 2024 , € 127million as

of December 31, 2023 and € 204million as of December 31, 2022 (see Note D.12.). The fair value of this contingent

consideration is determined by applying the royalty percentage stipulated in the contract to discounted sales proje ctions;

| F-64 | SANOFIFORM 20-F2024 |

| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS |

• a contingent consideration liability towards Shire Human Genetic Therapies Inc. (Shire) arising from Sanofi’s acquisition of

Translate Bio in September 2021. In a business combination carried out in December 2016 and predating the acquisition of

control by Sanofi, Translate Bio (then called Rana Therapeutics, Inc.) acquired from Shire the intellectual property rights

relating to the latter’s Messenger RNA Therapeutics (MRT) program. As of December 31, 2024 , Shire was entitled to receive the

following potential payments:

– milestone payments contingent on the launch of products based on MRT technology, and on the attainment of a specified

level of sales of those products, and

– a percentage of sales of those products .

The fair value of the Shire liability was measured at € 568million as of December 31, 2024 , compared with € 441million as

of December 31, 2023 and € 380million as of December 31, 2022 ; it was determined by applying the contractual terms to

development and sales projections which were weighted to reflect the probability of success, and discounted. If the discount

rate were to fall by one percentage point, the fair value of the Shire liability would increase by approximately 13% ;

• Following the exclusive licensing agreement on the ProXTen technology platform entered into with Vir Biotechnology in

September 2024 , Inc., Sanofi no longer has any contingent consideration liability arising from the acquisition of Amunix in

2022 . The fair value of that contingent consideration liability was € 137million as of December 31, 2023 and € 165million as of

December 31, 2022.

• The Bayer contingent consideration liability arising from Sanofi’s acquisition of