Company: SNY
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0001121404-25-000010
Chunk: 375

Company: Sanofi
Filing Date: 2025-02-13
Form: 20-F
Chunk 375
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 payments of up to $ 250million based on sales. This agreement led to the de-recognition of assets relating to the Enjaymo activity, including goodwill of € 276million . The gain arising on the divestment is immaterial. The impact of the disposal in the consolidated cash flow statement, as reflected in the line item Proceeds from disposals of tangible, intangible and other non-current assets net of tax , is a pre-tax cash inflow of € 768million . D.1.2. Significant transactions of 2023 Acquisition of Provention Bio, Inc. On March 13, 2023, Sanofi entered into a merger agreement with Provention Bio, Inc. (Provention), a US-based publicly traded biopharmaceutical company developing therapies to prevent and intercept immune-mediated diseases including type 1 diabetes. Under the terms of the agreement, Sanofi acquired the outstanding shares of Provention common stock for $ 25.00 per share in an all-cash transaction valued at approximately $ 2.8billion . The acquisition of Provention was completed on April 27, 2023, with Sanofi holding all of the shares of Provention on expiration of the tender offer. Sanofi applied the optional test to identify concentration of fair value under paragraph B7A of IFRS 3. The transaction was accounted for as an acquisition of a group of assets, given that the principal asset (teplizumab-mzwv, commercialized in the United States under the name Tzield) concentrates substantially all of the fair value of the acquired set of activities and assets. Under the terms of a share purchase agreement entered into by Sanofi and Provention in February 2023, Sanofi already held an equity interest in Provention, representing approximately 3% of Provention’s share capital. On the date Sanofi obtained control of Provention, that equity interest was remeasured at a price of $ 25.00 per share, representing a total amount of $ 68million . The impact of the remeasurement was recognized in Other comprehensive income . The acquisition price for the shares not already held was $ 2,806million . Out of the total price (including the fair value of the shares already held), $ 2,810million was allocated to Tzield and recognized within Other intangible assets . The difference between that amount and the acquisition price corresponds to the other assets acquired and liabilities assumed as part of the transaction, after taking account of the