Company: SNY
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0001121404-25-000010
Chunk: 168

Company: Sanofi
Filing Date: 2025-02-13
Form: 20-F
Chunk 168
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 liabilities (recognized on acquisitions or disposals of activities) represented a net expense of € 96 million in 2024 , versus a net expense of € 93 million in 2023 . For 2024, this line item mainly comprises a fair value adjustment to the amount of contingent consideration vis-à-vis Shire as a result of a transaction carried out by Translate Bio, Inc. prior to the acquisition of that entity by Sanofi (expense of €94 million in 2024, versus €74 million in 2023).

| SANOFIFORM 20-F2024 | 77 |

| PART I                                               |
| ITEM 5. Operating and Financial Review and Prospects |

9/ Restructuring costs and similar items Restructuring costs and similar items represented a total charge of € 1,396 million in 2024 , versus a charge of € 1,030 million in 2023 , an increase of € 366 million . For 2024 , they mainly comprise costs relating to severance plans announced by Sanofi during the year. For 2023 they included the impact of pension reform in France on future annuities under the rules of each severance plan. Restructuring costs and similar items also include the effects of Sanofi's ongoing transformation projects. 10/ Other gains and losses, and litigation Other gains and losses, and litigation for 2024 represent a charge of € 470 millio n, mainly comprising a provision recognized in respect of the litigation related to Plavix (clopidogrel) in the US state of Hawaii (see Note D.22.) For 2023 , this line item represented a charge of €196 million related to major litigation. 11/ Operating income Operating income amounted to € 7,252 million in 2024 , versus € 6,960 million in 2023 . 12/ Financial income and expenses Net financial expenses were € 554 million in 2024 , versus € 709 million in 2023 , a decrease of € 155 million. The 2024 amount includes a financial expense of € 291 million (€ 541 million in 2023) in respect of the liability recognized in the balance sheet for estimated future royalties on US sales of Beyfortus, which were remeasured to reflect the successful US launch of the product (see Notes C.2. and D.29. to our consolidated financial statements). The cost of our net debt (see the definition in “— B.