Company: SNY
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0001121404-25-000010
Chunk: 179

Company: Sanofi
Filing Date: 2025-02-13
Form: 20-F
Chunk 179
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 partly offsetting by the impact of generics of Aubagio and lower sales of Lantus and influenza vaccines . In Europe , net sales advanced by 4.2% at CER in 2023 to € 8,816 million. The performance of Dupixent (+ 30.9 % CER at € 1,224 million) and the launch of Beyfortus (€ 140 million) were partially offset by the impact of Aubagio generics and the decline in sales of non-strategic products. In the Rest of the World region , net sales for 2023 increased by 6.4% at CER to € 11,739 million, due to exceptional performances from Dupixent ( +46.2% CER at € 1,346 million). A.3.2. Other income statement items 1/ Other revenues Other revenues increased by 30.6% to € 3,801 million in 2023 (versus € 2,910 million in 2022 ). This line item mainly comprises VaxServe sales of non-Sanofi vaccines (€2,167 million in 2023 versus €1,567 million in 2022 ). The year-on-year increase also reflects higher revenues from manufacturing services contracts and revenues from the COVID-19 vaccine (in particular, €411 million received from the US government in connection with the supply contract for the recombinant COVID-19 vaccine candidate). 2/ Gross profit Gross profit for 2023 amounted to € 28,990 million compared with € 28,679 million in 2022 , an increase of 1.1% . Gross margin (the ratio of gross profit to net sales) also rose, reaching 76.7% in 2023 , versus 76.2% in 2022 . The year-on-year increase in gross margin reflects largely a favorable product mix and revenues related to the COVID-19 vaccine, which more than offset the effects of generic competition for Aubagio and unfavorable pricing effects for Lantus in the United States. 3/ Research and development expenses Research and development (R&D) expenses amounted to € 6,507 million in 2023 , versus € 6,501 million in 2022 , an increase of 0.1% , as investment stabilized. R&D expenses represented 17.3% of net sales in 2023 , the same as in 2022 .

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