Company: SNY
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0001121404-25-000010
Chunk: 23

Company: Sanofi
Filing Date: 2025-02-13
Form: 20-F
Chunk 23
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 our R&D Day presentation in December 2023, focuses on key growth drivers including (but not limited to) Dupixent, Vaccines, and key therapeutic areas in immunology. Nevertheless, market expansion and new launches of medicines and vaccines may not deliver the anticipated benefits. We may also encounter delays or failures in our launch strategy (in terms of timing, pricing, market access, marketing efforts, and dedicated sales forces), such that our products may not deliver the expected benefits. The competitive environment for a given medicine or vaccine may also have changed by the time of the actual launch, modifying our initial forecasts. The need to prioritize the allocation of resources may also cause delays in or hamper the launch or expansion of certain medicines or vaccines. Also, we currently generate a substantial share of our net sales from certain key products (see “Item 5. Operating and Financial Review and Prospects — A.2.1. Net sales — 3/Net Sales – Biopharma segment”). For example, Dupixent generated net sales of €13,072 million in 2024 representing 31.8% of our net sales for the year and is Sanofi’s biggest product in terms of sales. Among our flagship products, Lantus, Lovenox, Plavix, Jevtana and Aubagio already face generic competition on the market. In 2024, Lantus was one of Sanofi’s leading products with net sales of € 1,628 million. With respect to influenza, which represented 30.8% of vaccines net sales in 2024, we may face potential challenges. The influenza market is expected to have several new competitive entrants, both from standalone flu mRNA and COVID-flu combinations, who could be on the market ahead of us. Additionally, the influenza market globally is subject to intense pricing pressure, as well as a decrease in vaccination coverage. The combination of such factors could result in a lowering of revenue from sales of influenza vaccines. Beyfortus, which represented 20.3% of our vaccines net sales in 2024, may also face competition from another monoclonal antibody in the coming years, which could negatively impact our revenue in this area. More generally, expiration of effective intellectual property protections for our products typically results in the market entry of one or more lower-priced generic competitors, often leading to a rapid and significant decline in revenues from those products (for information regarding ongoing patent litigation see Note D.22.b. to the consolidated financial statements included at Item