Company: SNY
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0001121404-25-000010
Chunk: 444

Company: Sanofi
Filing Date: 2025-02-13
Form: 20-F
Chunk 444
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 the potential to treat a range of systemic inflammatory diseases such as ulcerative colitis. Sanofi did not discontinue any collaboration agreement that would have resulted in a significant reduction in commitments as of December 31, 2024 . In addition, under the collaboration agreement with Regeneron on monoclonal antibodies (see Note C.1.), Sanofi is entitled to receive an additional share of quarterly profits (capped at 10% of Regeneron’s share of quarterly profits until March 31, 2022, and thereafter at 20% ), until Regeneron has paid 50% of the cumulative development costs incurred by the parties to the alliance. As of December 31, 2024 this represented total commitments received of € 1.6billion (versus € 2.1billion as of December 31, 2023 ), against cumulative development costs of € 9.7billion . Sanofi entered into an agreement with Royalty Pharma in December 2014 relating to development programs, under which Royalty Pharma bore a portion of the remaining development costs of the project on a quarterly basis in return for royalties on future sales. The products in development under that agreement have been launched in territories including the United States and Europe, marking the end of the joint development programs. On February 27, 2017, Sanofi and Lonza announced a strategic partnership in the form of a joint venture (BioAtrium AG) to build and operate a large-scale mammalian cell culture facility for monoclonal antibody production in Visp, Switzerland. An initial investment of approximately € 0.3billion to finance construction of the facility, split 50 / 50 between the two partners, has now been made in full. In addition, Sanofi could pay BioAtrium AG in the region of € 0.6billion over the 2025-2031 period as its share of operating expenses and the cost of producing future batches. In February 2014, pursuant to the “Pandemic Influenza Preparedness Framework for the sharing of influenza viruses and access to vaccines and other benefits” (still effective as of December 31, 2024 ), Sanofi Pasteur and the World Health Organization (WHO) signed a bilateral “Standard Material Transfer Agreement” (SMTA 2). This agreement stipulates that Sanofi Pasteur will, during declared pandemic periods, (i) donate 7.5% of its real-time production of pandemic