Company: SNY
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0001121404-25-000010
Chunk: 30

Company: Sanofi
Filing Date: 2025-02-13
Form: 20-F
Chunk 30
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 We may fail to successfully identify external business opportunities or realize the anticipated benefits from our strategic investments or divestments We pursue a strategy of selective acquisitions, in-licensing, and collaborations to reinforce our pipeline and portfolio. We are also proceeding to selective divestments to focus on key business areas. The implementation of this strategy depends on our ability to identify transaction opportunities, mobilize the appropriate resources to enter into agreements in a timely manner, and execute these transactions on acceptable economic terms. Moreover, entering into in-licensing or collaboration agreements generally requires the payment of significant “milestones” well before the relevant products reach the market, without any assurance that such investments will ultimately become profitable in the long term (see Note C. to the consolidated financial statements included at Item 18. of this annual report and “— We rely on third parties for the discovery, manufacture, marketing, and distribution of some of our products” above). Once a strategic transaction is agreed upon with a third party, we may not be able to complete the transaction in a timely manner or at all. For example, our planned separation of Opella may not be completed on the terms or timeline currently contemplated, if at all, and may not achieve the expected results (see “—Completion of the separation of Opella is subject to conditions that may not be satisfied and we may fail to realize any or all of the anticipated benefits of the separation and/or face unintended adverse impacts on our business” below). For newly acquired activities or businesses, our growth objectives could be delayed or ultimately not realized, and expected synergies could be adversely impacted if, for example: we are unable to integrate those activities or businesses quickly or efficiently; key employees leave; or we have higher than anticipated integration costs. The Translate Bio acquisition (see in “— Several factors may hinder or delay our research and development efforts to renew our portfolio of medicines and vaccines” above) which was completed in 2021 may not generate the expected results in terms of developing new mRNA-based products to meet existing or future needs, and the potential of Translate Bio’s mRNA platform may not be realized to its full extent because of the difficulty of integrating the activity quickly and efficiently into the Group. We may also miscalculate the risks associated with business development transactions at the time they are made or may lack the resources or ability to access all the relevant information to evaluate such risks properly, including regarding the potential of research and development pipelines, manufacturing issues, tax or accounting issues, compliance issues, or the outcome of ongoing legal and other proceedings