Company: SNY
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0001121404-25-000010
Chunk: 369

Company: Sanofi
Filing Date: 2025-02-13
Form: 20-F
Chunk 369
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, including “standstill” provisions that contractually prohibit Sanofi from seeking to directly or indirectly exert control of Regeneron or acquiring more than 30% of Regeneron’s capital stock (consisting of the outstanding shares of common stock and the shares of Class A stock). This prohibition remains in place until the earlier of (i) the later of the fifth anniversaries of the expiration or earlier termination of the Zaltrap collaboration agreement with

| SANOFIFORM 20-F2024 | F-31 |

| NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS |

Regeneron (related to the development and commercialization of Zaltrap) or the collaboration agreement with Regeneron on monoclonal antibodies (see “Collaboration agreements on human therapeutic antibodies” above), each as amended or (ii) other specified events. Starting in 2018 Sanofi began to sell shares of Regeneron stock and announced on May 29, 2020 the closing of its sale of 13million shares of Regeneron common stock in a registered offering and a private sale to Regeneron (see Note D.1.). Pursuant to subsequent sales in 2022, Sanofi no longer holds any shares of Regeneron stock, as of December 31, 2024. C.2. Agreements on the commercialization of Beyfortus (nirsevimab, previously MEDI8897) in the US On March 1, 2017, Sanofi and AstraZeneca entered into an agreement to develop and commercialize a monoclonal antibody (MEDI8897, nirsevimab) for the prevention of Respiratory Syncytial Virus (RSV) associated illness in newborns and infants. Under the terms of the agreement, Sanofi made an upfront payment of € 120million in March 2017, a development milestone payment of € 30million in the third quarter of 2019, a regulatory milestone payment of € 25million associated with the approval of Beyfortus (nirsevimab) by the EMA in Europe in November 2022, and a regulatory milestone payment of € 65million associated with the approval of Beyfortus (nirsevimab) by the US FDA in July 2023. In addition, Sanofi could pay AstraZeneca up to € 375million if sales objectives are met . Those amounts are recognized as a component of the value of the intangible asset when payment becomes probable