Company: SNY
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0001121404-25-000010
Chunk: 98

Company: Sanofi
Filing Date: 2025-02-13
Form: 20-F
Chunk 98
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,394 million in 2024 (€ 6,507 million in 2023 ). Research and development expenditures represented approximately 18.0 % of our net sales in 2024 , compared with 17.2 % in 2023 . The acceleration in R&D spend was focused mainly on key projects in immunology, rare diseases, neurology and vaccines, and also reflects the acquisitions and in-licensing agreements carried out in 2024; by contrast, expenditures in oncology have been reduced. Expenditures in Medical Affairs and R&D Support Functions reached €2,091 million in 2024 (€2,035 million in 2023 CER), driven by continued investment in digital R&D. In addition, a reimbursement of R&D expenses of approximately €200 million was received from Sobi in 2024 following the registration of ALTUVIIIO in Europe, and credited to R&D expenses.

| 40 | SANOFIFORM 20-F2024 |

| PART I                             |
| ITEM 4. Information on the Company |

B.5. Markets A breakdown of revenues by segment and by geographical region for 2024 , 2023 , and 2022 can be found at Note D.34. to our consolidated financial statements, included at Item 18. of this annual report. The following market shares and ranking information are based on consolidated national pharmaceutical sales data (excluding vaccines), in constant euros, on a September 2024 Moving Annual Total (MAT) basis. The data are mainly from IQVIA MIDAS local sales audit supplemented by various other country-specific sources including Knobloch (Mexico), GERS (France) and HMR (Portugal). B.5.1. Marketing and distribution We have business operations in approximately 63 countries and our products are available in more than 160 countries. A breakdown of our aggregate net sales by geographical region is presented in “Item 5. Operating and Financial Review and Prospects — Results of Operations — Year Ended December 31, 2024 Compared with Year Ended December 31, 2023 .” Sanofi is the tenth largest pharmaceutical company globally by sales. Our main markets in terms of net sales are respectively: • United States: we rank fifteenth with a market share of 2.1%; • Europe: we are the fifth largest pharmaceutical company in France where our market share is 4.0%, and we rank fourth in Germany with a 4.0% market share; and • other countries