Company: SNY
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0001121404-25-000010
Chunk: 181

Company: Sanofi
Filing Date: 2025-02-13
Form: 20-F
Chunk 181
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 Other (mainly Zaltrap and Libtayo)                                                       |    217 |  1,120 |
| Other operating income/(expenses), net related to Regeneron Alliance                     | -2,979 | -1,231 |
| of which amount presented in “Other operating income”                                    |    227 |  1,147 |

(a) As of December 31, 2023, the commitment received by Sanofi in respect of the additional profit share payable by Regeneron towards development costs amounted to € 2.1 billion , compared with € 2.7 billion as of December 31, 2022 . 6/ Amortization of intangible assets Amortization charged against intangible assets amounted to € 1,911 million in 2023 , compared with € 1,804 million in 2022 . This € 107 million increase was mainly due to (i) increased amortization expense in 2023 against Eloctate franchise assets further to FDA approval for ALTUVIIIO (€206 million) and (ii) the acquisition of Provention Bio, Inc., which led to €144 million of amortization being charged from the acquisition date against the intangible asset related to Tzield product; those effects were partly offset by the non-recurrence of the €226 million accelerated amortization charge taken in 2022 against Libtayo rights following the restructuring of the IO LCA with Regeneron (see Note C.1. to our consolidated financial statements). 7/ Impairment of intangible assets, net of reversals For 2023 , this line shows a net loss of € 896 million, mainly comprising an impairment loss of €833 million reflecting the impact of the strategic decision to de-prioritize certain R&D programs, in particular those related to the NK Cell and ProXTen technology platforms. For 2022 , this line item shows a net gain of € 429 million, mainly comprising: • a reversal of €2,154 million relating to Eloctate franchise assets, following FDA approval of ALTUVIIIO (the commercial name of efanesoctocog alpha, corresponding to the BIVV001 project); and • an impairment loss of €1,586 million relating to the development project for SAR444245 (non-alpha interleukin-2), based on revised cash flow projections reflecting unfavorable developments in the launch schedule. 8/ Fair value remeasurement of contingent consideration Fair value remeasurements