Slides
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Results Q4 & FY 2024 January 30, 2025 Finance Pipeline Business Appendices
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3 Forward-looking statements Investor Relations This document contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are statements that are not historical facts. These statements include projections and estimates and their underlying assumptions, statements regarding plans, business transformations, objectives, intentions, and expectations with respect to future financial results, events, operations, services, product development and potential, and statements regarding future performance. Forward-looking statements are generally identified by the words “expects”, “anticipates”, “believes”, “intends”, “estimates”, “plans”, “potential”, “outlook”, “guidance” and similar expressions. Although Sanofi’s management believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Sanofi, that could cause actual res ults and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include among other things, the uncertainties inherent in research and development, future clinical data and analysis, including post marketing, dec isions by regulatory authorities, such as the FDA or the EMA, regarding whether and when to approve any drug, device or biological application that may be file d for any such product candidates as well as their decisions regarding labelling and other matters that could affect the availability or commercial potential of such product candidates, the fact that product candidates if approved may not be commercially successful, the future approval and commercial success of therapeutic alternatives, Sanofi’s ability to benefit from external growth opportunities, to complete capital markets or other transactions and/or obtain regulatory clearances, risks associated with developing standalone businesses, risks associated with intellectual property and any related pending or future litigation and the ultimate outcome of such litigation, rends in exchange rates and prevailing interest rates, volatile economic and capital market conditions, cost containment initiatives and subsequent changes thereto, and the impact that pandemics, political disruption or armed conflicts or other global crises may have on us, our customers, suppliers, vendors, and other business partners, and the financial condition of any one of them, as well as on our employees and on the global economy as a whole. T he risks and uncertainties also include the uncertainties discussed or identified in the public filings with the SEC and the AMF made by Sanofi, including th ose listed under “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Statements” in Sanofi’s annual report on Form 20-F for the year ended December 31, 2023. Other than as required by applicable law, Sanofi does not undertake any obligation to update or revise any forward-looking information or statements. Brand names appearing in this presentation are trademarks of Sanofi and/or its affiliates. Not all trademarks related to products under development have been approved as of the date of this presentation by the relevant health authorities. Finance PipelineBusiness Appendices
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4 Agenda Investor Relations Business Paul Hudson Finance François Roger Pipeline Houman Ashrafian Q&A Presenters and Olivier Charmeil, Brian Foard, Brendan O’Callaghan, Roy Papatheodorou, and Thomas Triomphe 01 03 02 04 Finance PipelineBusiness Appendices
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5 2024: a year of significant progress Investor Relations All percentage changes at CER. 1. The proposed transaction is subject to finalization of definitive agreements and subject to obtaining regulatory approvals from the competent authorities. PipelineBusinessStrategy 11.3% growth in sales €4.5bn sales of nine newly launched medicines and vaccines One new blockbuster A focused, science-driven biopharma company delivering innovative medicines and vaccines to patients Progress in 2024 • Intention to sell a controlling stake in Opella consumer health at an attractive valuation1 • Further prioritizations in R&D Positive data for phase 3 NMEs • fitusiran – hemophilia A/B • rilzabrutinib – ITP • tolebrutinib – nrSPMS Positive data for phase 3 LCM • Sarclisa – MM • Dupixent – COPD, BP, CSU New phase 3-ready programs • duvakitug – IBD • SP0202 – pneumococcal disease Finance Pipeline Business Appendices
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6 Q4: double-digit sales growth Investor Relations All percentage changes at CER. 1. ALTUVIIIO, Nexviazyme, Rezurock, Sarclisa, Cablivi, Xenpozyme, Enjaymo, Tzield. On November 29, 2024, Recordati announced the closing of the acquisition of global rights to Enjaymo at which point Sanofi stopped booking in-market sales of the medicine. Pharma launches1 +56.5% 0.8 2.2 +10.8% Vaccines 10.6 +10.3% Other medicines stable 4.1 Dupixent +16.0% 3.5 • Pharma launches: continued strong performance • Dupixent: strong prescription trends and volume growth across indications • Vaccines: growth driven by Beyfortus Sales (€bn) Finance Pipeline Business Appendices
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Sales (€m) Q4 FY 841 1,686 230 682 184 667 132 470 130 471 73 249 38 151 221 1051 18 54 €1,668m €4,535m +78% +106% 7 Launches: 11% of sales in 2024 Investor Relations All percentage changes at CER. 1. On November 29, 2024, Recordati announced the closing of the acquisition of global rights to Enjaymo at which point Sanofi stopped booking in-market sales of the medicine. Finance Pipeline Business Appendices
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8 Dupixent: exceeded €13bn target in 2024 with strong growth to continue in approved and new indications Investor Relations All percentage changes at CER. 1. IQVIA data with internal projection. 2. Disclosed by Regeneron/awaiting regulatory submission acceptance. Sales (€bn) Strong performance Continued expansion of indications Approval – EoE (children) (EU) Resubmission acceptance – CSU (US) (PDUFA Apr 18) Submission – BP (US)2 Outside USUS 0.7 0.9 2.3 2.6 Q4 2023 Q4 2024 +10.4% +34.4% 3.5 3.0 +16.0% 2.6 3.5 8.1 9.5 FY 2023 FY 2024 +17.2% +41.8% 13.1 10.7 +23.1% Q4: continued strong prescription growth in all indications. Fewer business days/year-end GtN impacted US growth. COPD launches initiated FY: delivered >€13bn, including €3.5bn outside the US #1 NBRx market share across all indications1 Finance Pipeline Business Appendices
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0.3 0.3 0.6 0.6 0.7 0.5 0.4 0.8 Vaccines: growth led by Beyfortus All percentage changes at CER. 1. Mallah N, et al. Lancet Infect Dis. 2024:S1473-3099(24)00811-9. Hsiao A, et al. Ann Allergy Asthma Immunol. 2024;42(22):126030. 2. Data on file. 9 Investor Relations • €1.7bn in first full year of sales • All-infant programs >20 countries • >80% reduction in RSV LRTI with real-world evidence in >100k infants1 Influenza • Stronger leadership worldwide through increased market share and differentiated vaccines2 Phase 3 • PCV21 • Fluzone HD (50 years+) Phase 1 and 2 • Fluzone HD and Nuvaxovid • Flublok and Nuvaxovid • H5 pandemic flu • H5 pandemic flu (mRNA) Fast-track designations (US) • Fluzone HD and Nuvaxovid • Flublok and Nuvaxovid • H5 pandemic flu (mRNA) Q4: six clinical studies started 2.0 2.2 1.3 1.3 2.8 2.7 2.7 2.6 0.5 1.7 FY 2023 FY 2024 8.3 7.5+10.8% +13.5% FluBeyfortus Meningitis, Travel and endemicPPH, Boosters COVID-19 Sales (€bn) Q4 2023 Q4 2024 Finance Pipeline Business Appendices
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Governance of access • Integrated access-to-medicine into overall corporate strategy and incentives R&D • Structured access planning framework Product delivery • Successful inclusive business model: Sanofi Global Health Unit • Increased capacity building: technology transfer with Biovac in South Africa on IPV vaccine for African countries through UNICEF • Access to insulin for Ghana and Delta State in Nigeria 10 Sanofi: ranked third in the 2024 Access to Medicine Index Investor Relations Rank #1 Rank #3 Rank #5 vs. 8th previously 3rd Finance Pipeline Business Appendices
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Finance Q4 & FY 2024 (new scope excluding Opella) Finance Pipeline Business Appendices
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12 Q4: sales performance offset by planned phasing of expenses Investor Relations All percentage changes at CER. 1. Margin at actual exchange rate. 12 (€m) Q4 2023 Q4 2024 change Net sales 9,687 10,564 +10.3% Other revenues 1,381 856 -37.9% Gross profit 7,443 7,844 +6.9% Gross margin 76.8%1 74.3%1 -2.5pp R&D (1,815) (2,257) +24.4% SG&A (2,466) (2,648) +7.9% Operating expenses (4,281) (4,905) +14.9% Percentage of net sales 44.2% 46.4% +2.2pp Other operating income and expenses (844) (886) +5.5% Business operating income 2,356 2,078 -7.7% Business operating margin 24.3%1 19.7%1 -4.6pp Effective tax rate 16.5% 18.8% +2.3pp Total business net income 1,935 1,642 -11.2% Average number of shares, million 1,253.6 1,253.6 Business EPS 1.54 1.31 -11.0% Sales Growth driven by launches and Dupixent Gross margin -2.5pp, due to COVID-19 revenue in 2023 Operating expenses R&D: increased activity level as planned SG&A: positive leverage impact Business operating income -7.7%, driven by absence of COVID-19 and higher operating expenses Business EPS -11.0%, including a higher tax rate Finance PipelineBusiness Appendices
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13 2024: business EPS above guidance Investor Relations All percentage changes at CER. 1. Margin at actual exchange rate. 13 (€m) 2023 2024 change Net sales 37,817 41,081 +11.3% Other revenues 3,801 3,205 -13.3% Gross profit 28,999 31,091 +10.3% Gross margin 76.7%1 75.7%1 -1.0pp R&D (6,507) (7,394) +14.6% SG&A (8,933) (9,183) +4.5% Operating expenses (15,440) (16,577) +8.8% Percentage of net sales 40.8% 40.4% -0.4pp Other operating income and expenses (2,464) (3,293) +34.0% Business operating income 11,178 11,343 +7.6% Business operating margin 29.6%1 27.6%1 -2.0pp Effective tax rate 17.7% 19.8% +2.1pp Total business net income 9,076 8,912 +4.1% Average number of shares, million 1,251.7 1,251.4 Business EPS 7.25 7.12 +4.1% Sales Growth driven by launches and Dupixent Gross margin -1.0pp, due to COVID-19 revenue in 2023 Operating expenses R&D: investment in line with commitment SG&A: positive leverage impact Business operating income +7.6%, driven by higher gross profit and tight SG&A control Business EPS +4.1%, ahead of guidance Finance PipelineBusiness Appendices
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14 2025: business dynamics to consider Investor Relations All percentage changes at CER. Barring unforeseen events. 1. Based on January 2025 average rates. 2. Excludes any impact from hyperinflation. Sales FY 2025 Guidance (at CER) P&L Gross margin Increase Expenses R&D: slight increase due 2024 Sobi reimbursement SG&A: slight increase in preparation for launches Capital gains (divestments) Around €500m Effective tax rate Broadly stable versus 2024 EPS FX impact Between +2% and +3%1 Sales Growth at a mid-to-high single-digit percentage2 Business EPS Growth at a low double-digit percentage (before share buyback) US Usual Q1 impact from annual co-pay reset in specialty care, and introduction of IRA Part D redesign Other medicines Divestments €200 to €250m sales impact Sales FX impact Between +2% and +3%1 Beyfortus Further penetration and geographic expansion Finance PipelineBusiness Appendices
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15 Free cash flow: impacted by one-off items Investor Relations Free cash flow definition in appendix 9 of the Q4 2024 results press release. 1. Excluding tax and factoring. 2. Other includes -94 of CAPEX net of depreciations, -137 of interests and tax paid, -610 of tax paid, -83 of restructuring and -149 of other items excluding tax. Free cash flow 2023 BOI at CER Change in working capital1 Acquisitions net of proceeds before tax Foreign exchange rate 7.4 2.4 -1.4 -1.1 -0.3 -1.1 -0.8 6.0 0.8 Other2 (€bn) Free cash flow 2024 Factoring Lantus US list price cut One-off items Finance PipelineBusiness Appendices
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16 Low gearing Investor Relations Credit ratings reaffirmed: Moody’s A1/positive, S&P AA/stable, Scope AA/stable as ofDecember 31, 2024. 1. Including derivatives used to manage net debt: €111m on December 31, 2023 and €213m on December 31, 2024. 2. Effective January 1, 2019, net debt does not include lease liabilities following the first-time application of IFRS16. 3. Before restructuring, acquisitions and disposals. 4. Includes acquisitions of intangible assets that are not exceeding a cap of €500 million per transaction (inclusive of all payments related to the transaction) of €1,434m, proceeds from disposal of -€805m, acquisition that are above a cap of €500 million per transaction (inclusive of all payments related to the transaction) of €2,509m, -€609m of proceeds net of taxes. 5. Including €302m use of funds from acquisition of treasury shares, €98m of impact on net debt of the reclassification of Opella business to “Assets held-for-sale”, €439m of other items, -€187m of issuance of Sanofi shares, -€322m of net cash provided by/(used in) the discontinued Opella Business. 6. Business operating income non-GAAP. -7.5 2.5 0.9 4.7 0.3 8.8 7.8 (€bn) Net debt Dec 31, 20231,2 Net debt Dec 31, 20241,2 FCF3 M&A and BD activity4 Restructuring and similar items Other5Dividends ND/BOI6 0.7x ND/BOI6 0.8x Finance PipelineBusiness Appendices
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17 Capital allocation policy confirmed Investor Relations Organic investment1 M&A/Business development2 Growing dividend3 Share buyback4 Dividend increase expected for the 30th consecutive year Proposed dividend €3.921 +4.3% €5bn Sanofi intends to execute a share buyback program in 2025 of €5bn to be purchased preferably through block trades and in the open market with the purpose of cancellation. 1. Subject to approval at the annual general meeting on April 30, 2025. 1994 2024 Finance PipelineBusiness Appendices
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Pipeline Finance Pipeline Business Appendices
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19 2024: sustainable progress across the pipeline Investor Relations As of December 31, 2024. 1. Includes the US, EU, Japan, and China. Strong pipeline progress across key indicators of R&D productivity Scientific publications Regulatory successesPipeline delivery 3 7 5 11 9 2020 2021 2022 2023 2024 6 8 regulatory approvals1regulatory submission acceptances1 priority reviews fast-track designations breakthrough -therapy designation 9 high-impact journals (Cell, Lancet, Nature, and The New England Journal of Medicine) phase 3 positive readouts phase 3 starts NMEs entering the clinic 4 1 21 4 14 7 Finance Pipeline Business Appendices
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20 Sarclisa: earlier use and subcutaneous administration can unlock value for patients with multiple myeloma Investor Relations For additional details, please refer to the American Society of Hematology (ASH) 2024 Annual Meeting and Exposition presentation #364 (clinical trials identifier: NCT05804032). IRAKLIA clinical study identifier: NCT05405166. enFuse, developed by Enable Injections, is an investigational on-body delivery system device and has not been approved by any regulatory authority or made available on the market. Subcutaneous fixed dose via on-body delivery system in combo with pomalidomide and dexamethasone met co-primary, non-inferiority endpoints compared to weight-based intravenous formulation. Additional data from ongoing studies will support Sarclisa subcutaneous in combination with different standards of care in multiple lines of treatment. GMMG-HD7 phase 3 study: transplant-eligible front-line patients 43% improvement in progression-free survival (PFS) Time, months since first randomization HR 0.70 (95% CI, 0.52‒0.95); p=0.0184 VRd, ASCT, R or Isa-R Kaplan –Meier estimate Isa-RVd, ASCT, R or Isa-R I IIII II I II II I I I I I I II II I II I IIIIIII IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII IIIIIIIIIIIIIIIIIIIIII III II 100 75 50 25 0 12 24 36 48 60 0 I I II I II II I I I I I II I IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII IIIIIIIIIIII • PFS: 30% reduction in risk of disease progression or death (HR 0.70; 95% CI 0.52-0.95; p=0.0184) after induction therapy with Sarclisa-RVd • Three-year PFS rate in the Sarclisa-RVd arm of 83% compared to 75% IRAKLIA phase 3 study: first data for subcutaneous formulation Regulatory submission planned in H1 2025 Finance Pipeline Business Appendices
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ITP: platelet response achieved in 65% of patients at 15 days 21 rilzabrutinib: potential treatment for patients with rare diseases Investor Relations For additional details, please refer to the American Society of Hematology (ASH) 2024 Annual Meeting and Exposition presentation #5 (clinical trial identifier: NCT04562766). 1. Clinical trial identifier NCT05002777. 2. Clinical trial identifier NCT04520451. • Primary endpoint demonstrated durable platelet response in 23% of patients compared to 0% at week 25 (95% CI, 16%-30%; p<0.0001) • rilzabrutinib significantly improved clinical manifestations and fatigue, even in non-durable platelet responders • High unmet medical need as current standard of care can be associated with safety risks and limitations in qualify of life Regulatory decisions expected in H2 2025 (US PDUFA Aug 29, EU, CN) Warm autoimmune hemolytic anemia1 • ASH 2024: rilzabrutinib phase 2 study showed clinically meaningful outcomes on response rate and disease markers • Phase 3 plans underway IgG4-related disease2 • During Q4, rilzabrutinib phase 2 study showed considerable outcomes on disease flare and glucocorticoid sparing • Next steps being considered Taking a potentially disease-modifying treatment beyond ITP Potential to expand in rare diseases double -blind period open -label period week Finance Pipeline Business Appendices
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20.4% 36.2% 47.8% 0% 10% 20% 30% 40% 50% 60% Clinical remission Participants achieving endpoint p=0.003 15.7% p=0.05 27.4% 22 duvakitug: significant and clinically meaningful benefits in IBD Investor Relations For additional details, please refer to the TEVA duvakitug investor call presentation (clinical study identifier: NCT05499130). All values met the pre-specified statistical criteria, probability of (TEV-’574 rate greater than PBO) >0.9. pvalues are based on one-sided test at a significant value of 0.1. 1. In phase 2a severe asthma (clinical study identifier: NCT04545385), for additional details, please refer to the P1061 poster presented at the 2024 Congress of the European Crohn's and Colitis Organisation. • Based on a nominal comparison, and in absolute terms, the high-dose benefit seen in UC is the largest accross the TL1A class • Only TL1A monoclonal antibody to show benefit in CD in phase 2 • Favorable safety and tolerability profile in both UC and CD, with low levels of anti-drug antibody1 • 2.3m ulcerative colitis and 1.8m Crohn’s disease patients diagnosed, with half of them moderate-to-severe and eligible for biologics Full data to be presented at ECCO in February (Modified Mayo Score; mMS ) ulcerative colitis 13% 26% 48% 0% 10% 20% 30% 40% 50% 60% Endoscopic response Placebo Low dose High dose p=0.058 13.0% 34.8% (SES-CD ≥ 50%) Crohn’s disease Phase 2b support further development as a treatment option for UC and CD Sanofi and Teva plan to initiate phase 3 development in IBD, pending regulatory discussions Primary endpoints met in ulcerative colitis and Crohn’s disease phase 2b study at week 14 p<0.001 Finance Pipeline Business Appendices
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23 Pipeline: increasing news flow Investor Relations Key pipeline news flow only. For abbreviations, please see slide 41. 1. Awaiting regulatory acceptance in the US. Phase 3 data readout [ Regulatory submissionPhase 2 data readout Regulatory decision rilzabrutinib – ITP (JP) Dupixent – COPD (JP) tolebrutinib – SPMS (EU) Dupixent – CSU (US, EU) Cerezyme – GD3 (US) fitusiran – Hemophilia A/B (US) Sarclisa – SC formulation (US, EU) Sarclisa – NDMM, TI (IMROZ) (JP, CN) MenQuadfi – Meningitis (six weeks+) (US) H1 2025 H2 2025 2026 itepekimab – Bronchiectasis amlitelimab – AD lunsekimig – Asthma Nexviazyme – IOPD lunsekimig – CRSwNP riliprubart – CIDP eclitasertib – UC SP0282 – E. coli sepsis frexalimab – SLE SP0218 – Yellow fever SAR444656 – HS/AD SP0125 – RSV (toddlers) itepekimab – COPD (JP, CN) riliprubart – CIDP SAR447537 – AATD tolebrutinib – PPMS (US, EU) Nexviazyme – IOPD Fluzone HD – Flu (50 years+) venglustat – GD3 SP0218 – Yellow fever venglustat – Fabry itepekimab – COPD (US, EU) Dupixent – BP (US1) SP0087 – Rabies (US, EU) Tzield – DO T1D (EU, CN) Sarclisa – SC formulation (JP, CN) Tzield – EI T1D (EU) Rezurock – cGvHD, 3L (EU) fitusiran – Hemophilia A/B (CN) rilzabrutinib – ITP (US, EU, CN) tolebrutinib – SPMS (US1) Sarclisa – NDMM, TE (HD7) (EU) balinatunfib – Psoriasis brivekimig – HS amlitelimab – HS amlitelimab – Asthma SAR447873 – GEP NETs SP0087 – Rabies itepekimab – COPD balinatunfib – RA venglustat – Fabry disease SAR447537 – AATD venglustat – GD3 SP0230 – Meningitis tolebrutinib – PPMS SP0256 – RSV (older adults) Fluzone HD – Flu (50 years+) Finance Pipeline Business Appendices
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Q&A session To ask a question Click on the Raise hand icon Check your audio device is well connected By zoom Raise and lower your hand: dial *9 Unmute and mute your microphone: dial *6 By phone Any problems? Email us: investor.relations@sanofi.com Finance Pipeline Business Appendices
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Finance appendices (new scope excluding Opella) Finance Pipeline Business Appendices Pipeline appendices Abbreviations Collaborations Finance appendices
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26 Investor Relations All percentage changes at CER. Sales biopharma Q4 2024 (€m) change FY 2024 (€m) change Dupixent 3,458 16.0% 13,072 23.1% RSV vaccines (Beyfortus) 841 106.6% 1,686 214.4% Polio/Pertussis/Hib vaccines & Boosters 632 10.8% 2,741 1.2% Influenza vaccines 454 -36.8% 2,555 -1.3% Lantus 439 63.4% 1,628 20.8% Toujeo 290 6.5% 1,227 13.4% Fabrazyme 269 12.4% 1,047 9.1% Meningitis, Travel and Endemic vaccines 249 -4.2% 1,316 5.4% Lovenox 231 -7.6% 982 -7.0% ALTUVIIIO 230 143.6% 682 330.2% Plavix 211 -16.9% 914 -0.4% Nexviazyme/Nexviadyme 184 42.0% 667 61.2% Cerezyme 171 33.8% 742 20.3% Alprolix 169 19.0% 588 9.6% Rezurock 132 53.5% 470 51.6% Myozyme 132 -17.0% 671 -12.3% Sarclisa 130 30.1% 471 29.7% Kevzara 126 21.0% 424 21.0% Thymoglobulin 125 15.2% 492 7.3% Praluent 110 -6.8% 483 15.2% Finance PipelineBusiness Appendices Pipeline appendices AbbreviationsCollaborations Finance appendices
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Investor Relations Currency impact1 Sales (€m) Business EPS (€) 27 -340 -201 -335 -116 -0.17 -0.08 -0.12 -0.08 -0.06 Q1 Q2 Q3 2024 Q4Q1 Q2 Q3 2024 Q4 1. Reflecting the new scope of reporting excluding Opella. Finance PipelineBusiness Appendices Pipeline appendices AbbreviationsCollaborations Finance appendices
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28 Investor Relations Currency sensitivity and exposure Currency exposure on Q4 2024 sales2025 business EPS currency sensitivity currency change business EPS sensitivity US Dollar + 0.05 USD/EUR - EUR 0.18 Japanese Yen + 5 JPY/EUR - EUR 0.02 Chinese Yuan + 0.2 CNY/EUR - EUR 0.02 Brazilian Real + 0.4 BRL/EUR - EUR 0.01 Currency average rates Q4 2023 Q4 2024 change €/US Dollar 1.076 1.067 -0.8% €/Yen 159.030 162.434 +2.1% €/Yuan 7.778 7.685 -1.2% €/Real 5.329 6.229 +16.9% €/Ruble 99.644 106.724 +7.1% US Dollar 50.0% Euro 20.2% Chinese Yuan 5.1% Japanese Yen 3.4% Canadian Dollar 2.3% Mexican Pesos 1.4% Turkish Lira 1.4% Brazilian Real 1.3% Australian Dollar 1.2% British Pound 1.1% Others 12.6% Finance PipelineBusiness Appendices Pipeline appendices AbbreviationsCollaborations Finance appendices
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29 Investor Relations Accounting treatment of SP0202 (pneumococcal disease 21-valent conjugate) - updated December 2024 Above BNI Below BNI World excluding South Korea South Korea Net sales Sanofi consolidates net sales SK bioscience consolidates net sales Cost of sales Sanofi consolidates cost of sales Sanofi will pay SK bioscience royalties on net sales SK bioscience consolidates cost of sales R&D R&D costs are shared 50% between the parties SG&A Sanofi books 100% of the costs SK bioscience bears 100% of the costs Intangible asset (amortized below BNI over useful life) Upfront Sanofi paid €50m to SK bioscience upon closing of the updated agreement (Q1 2025) Development, regulatory and sales milestones Sanofi will pay up to €300m of development, regulatory and sales milestones Finance PipelineBusiness Appendices Pipeline appendices AbbreviationsCollaborations Finance appendices
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Pipeline appendices Finance Pipeline Business Appendices Pipeline appendices Finance appendices Abbreviations Collaborations
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31 Investor Relations As of December 31, 2024. For abbreviations, please see slide 41. Illustrative. What’s next: Immunology SAR444656 phase 2 rilzabrutinib phase 2 SAR444656 phase 2 balinatunfib phase 2 rilzabrutinib phase 2 eclitasertib phase 2 in UC balinatunfib phase 2 in CD balinatunfib phase 2 brivekimig phase 2 lunsekimig phase 2 in severe/ high-risk lunsekimig phase 2 in CRSwNP duvakitug phase 2 amlitelimab phase 3 amlitelimab phase 2 amlitelimab phase 2 itepekimab phase 3 Dupixent approved (US, EU, JP, CN) Dupixent approved (US, EU, JP, CN) Dupixent approved (JP) sub. (US, EU) Dupixent phase 3 sub. (US) Dupixent phase 3 Dupixent approved (US, EU, JP, CN) Dupixent approved (US, EU, CN) sub. (JP) Dupixent Approved in CRSwNP (US, EU, JP) Dupixent approved (US, EU) Kevzara approved, in PMR/ pJIA/sJIA AD PN CSU HS BP CPUO Psoriasis Asthma COPD CRS EoE IBD RA Dermatology Respiratory Gastroenterology Rheumatology Oral Finance PipelineBusiness Appendices Pipeline appendices Finance appendices AbbreviationsCollaborations
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New fields Pneumococcal disease 21-valent conjugate phase 3 Acne mRNA phase 1 E. coli sepsis 9-valent conjugate phase 3 PPH and Boosters Hexa, penta, quadrivalent approved Boosters approved Meningitis, Travel and endemic Meningitis 5-valent (ABCWY) phase 2 Yellow fever vero cell phase 2 Rabies vero cell phase 3 Yellow fever vero cell phase 2 Rabies vero cell phase 3 Yellow fever vero cell phase 2 Rabies vero cell phase 3 MenQuadfi 4-valent (ACWY) approved Yellow fever/rabies/typhoid/hepatitis A approved RSV Beyfortus RSV mAb approved RSV (toddlers) live attenuated phase 3 RSV combination (older adults) mRNA phase 1/2 Influenza COVID-19 Flu mRNA phase 1 Flu H5 pandemic mRNA phase 1/2 Flu H5 pandemic inactivated adjuvanted phase 2 Flublok+COVID-19, Fluzone HD+COVID-19 (50y+) phase 1/2 Nuvaxovid COVID-19 approved Flu standard dose Fluzone, Vaxigrip approved Flu standard dose Fluzone, Vaxigrip approved Differentiated flu Flublok approved Differentiated flu Flublok, Fluzone HD approved Infant/toddler/pediatric Adolescent/adult Older adult 32 Investor Relations As of December 31, 2024. For abbreviations, please see slide 41. Illustrative. What’s next: Vaccines Finance PipelineBusiness Appendices Pipeline appendices Finance appendices AbbreviationsCollaborations
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33 Investor Relations As of December 31, 2024. For collaborations (superscripted by capital letters), please see slide 40. For abbreviations, please see slide 41. Pipeline: Q4 appendix changes Regulatory Submission Dupixent – Chronic spontaneous urticaria (US) Submission rilzabrutinib – Immune thrombocytopenia (US, EU, CN) Submission Sarclisa – NDMM, TE (HD7) (EU) New in Regulatory Approval Dupixent – EoE (children) (EU) Approval Cerdelga – GD1 (children) (EU) Approval Sarclisa – NDMM, TI (IMROZ) (EU) Removed from Phase 3 Dupixent – CSU (US) rilzabrutinib – ITP tolebrutinib – RMS Phase 3 Dupixent – Lichen simplex chronicus SP0202 – Pneumococcal disease Fluzone HD – Flu (50 years+) Designations US ODD SAR443579 – AML FTD Fluzone HD+Nuvaxovid – Flu+COVID-19 FTD Flublok+Nuvaxovid – Flu+COVID-19 FTD SP0289 – Flu (H5 pandemic) FTD SP0256 – RSV+hMPV (older adults) Phase 1 SAR446959 – Knee osteoarthritis SP0287 – Fluzone HD+COVID-19 SP0287 – Flublok+COVID-19 SP0289 – Flu (H5 pandemic) Phase 1 SAR445611 – Inflammatory indication SAR444200 – Solid tumors pegenzileukin – Cancer, in combination Phase 2 balinatunfib – Crohn’s disease lunsekimig – High-risk asthma SAR447873 – GEP NETs SP0335 – Flu (H5 pandemic) US BTD tolebrutinib – nrSPMS US BTD SAR447873 – GEP NETs Phase 2 SP0202 – Pneumococcal disease Fluzone HD – Flu (children) Finance PipelineBusiness Appendices Pipeline appendices Finance appendices AbbreviationsCollaborations
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34 Investor Relations As of December 31, 2024. For collaborations (superscripted by capital letters), please see slide 40. For abbreviations, please see slide 41. Pediatric and adolescents’ indication extensions are not included. 1. Currently in phase 3 in the EU. 2. Also known as SAR441344. 3. Also known as SAR445088. 4. Also known as SP0178. 5. Awaiting regulatory acceptance in the US. Pipeline: registration and phase 3 Immunology DupixentA IL4xIL13 mAb Bullous pemphigoid5 Chronic pruritus of unknown origin Eosinophilic gastritis Lichen simplex chronicus itepekimabA IL33 mAb Chronic obstructive pulmonary disease amlitelimab OX40L mAb Atopic dermatitis Rezurock ROCK2 inhibitor Chronic lung allograft dysfunction Chronic graft-versus-host disease, 1L Tzield CD3 mAb Type 1 diabetes Neurology tolebrutinib BTK inhibitor Non-relapsing secondary progressive MS5 Primary progressive MS frexalimabB,2 CD40L mAb Relapsing MS Non-relapsing secondary progressive MS riliprubart3 C1s inhibitor SOC-refractory CIDP IVIg-treated CIDP Rare diseases Nexviazyme Enzyme replacement therapy Pompe disease infantile onset (US) venglustat Oral GCS inhibitor Fabry disease Gaucher disease type 3 Oncology Sarclisa CD38 mAb NDMM, TE (HD7) (US) NDMM, TE (IsKia) Smoldering MM (ITHACA) CD38 mAb subcutaneous R/R MM (IRAKLIA) Phase 3 Registration DupixentA IL4xIL13 mAb Chronic obstructive pulmonary disease (JP) Chronic spontaneous urticaria (US, EU) fitusiran1 RNAi targeting anti-thrombin Hemophilia A and B (US, CN) rilzabrutinib BTK inhibitor Immune thrombocytopenia (US, EU, CN) Sarclisa CD38 mAb NDMM, TI (IMROZ) (JP, CN) NDMM, TE (HD7) (EU) MenQuadfi1 4-valent (ACWY) conjugate Meningitis (six weeks+) (US) Vaccines SP0087 Vero cell Rabies SP0125 Live attenuated RSV (toddlers) Fluzone HD4 Multivalent inactivated Flu (50 years+) SP0202C 21-valent conjugate Pneumococcal disease SP0282D 9-valent conjugate E. coli sepsis Finance PipelineBusiness Appendices Pipeline appendices Finance appendices AbbreviationsCollaborations
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35 Investor Relations Pipeline: phase 2 Rare diseases rilzabrutinib BTK inhibitor Warm autoimmune hemolytic anemia SAR4475379 AAT fusion protein Alpha-1 antitrypsin deficiency Oncology Sarclisa CD38 mAb R/R MM SAR443579H Trifunctional anti-CD123 NK-cell engager Acute myeloid leukemia SAR447873I,10 SSTR targeting alpha-emitter therapy Gastroenteropancreatic neuroendocrine tumors Immunology DupixentA IL4xIL13 mAb Ulcerative colitis itepekimabA IL33 mAb Bronchiectasis amlitelimab OX40L mAb Alopecia areata Asthma Celiac disease Hidradenitis suppurativa Systemic sclerosis rilzabrutinib BTK inhibitor Asthma Chronic spontaneous urticaria IgG4-related disease frexalimabB,1 CD40L mAb Systemic lupus erythematosus Type 1 diabetes balinatunfib2 Oral TNFR1 signaling inhibitor Psoriasis Rheumatoid arthritis Crohn’s disease lunsekimig3 IL13xTSLP Nanobody® VHH Asthma High-risk asthma Chronic rhinosinusitis with nasal polyps eclitasertibE,4 RIPK1 inhibitor Ulcerative colitis SAR444656F,5 IRAK4 degrader Atopic dermatitis Hidradenitis suppurativa Vaccines SP0218 Vero cell Yellow fever SP0230 5-valent (ABCWY) Meningitis SP0256 (1) mRNA RSV (older adults) SP0335 Inactivated adjuvanted Flu (H5 pandemic) As of December 31, 2024. For collaborations (superscripted by capital letters), please see slide 40. For abbreviations, please see slide 41. Pediatric and adolescents’ indication extensions are not included. 1. Also known as SAR441344. 2. Also known as SAR441566. 3. Also known as SAR443765. 4. Also known as SAR443122/DNL758. 5. Also known as KT474. 6. Also known as SAR442970. 7. Also known as SAR447189/TEV’574. 8. Also known as SAR445088. 9. Formerly known as INBRX-101. 10. Also known as 212Pb-dotamtate/AlphaMedix. brivekimig6 TNFaxOX40L Nanobody® VHH Hidradenitis suppurativa duvakitugG,7 TL1A mAb Crohn’s disease Ulcerative colitis riliprubart8 C1s inhibitor Antibody-mediated rejection Finance PipelineBusiness Appendices Pipeline appendices Finance appendices AbbreviationsCollaborations
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Neurology SAR446159J,2 SynucleinxIGF1R mAb Parkinson’s disease 36 Investor Relations As of December 31, 2024. For collaborations (superscripted by capital letters), please see slide 40. For abbreviations, please see slide 40. Pediatric and adolescents’ indication extensions are not included. 1. Also known as MAB212, in-licensed from MAB Discovery. 2. Also known as ABL301. 3. Also known as KD050. 4. Also known as SAR444245. Pipeline: phase 1 Immunology SAR444336 Non-beta IL2 SynthorinTM Inflammatory indication SAR4453991 IL1R3 mAb Inflammatory indication SAR446422 CD28xOX40 bispecific Ab Inflammatory indication SAR446959 MMP13xADAMTS5xCAP Nanobody® VHH Knee osteoarthritis Oncology SAR445514H Trifunctional anti-BCMA NK-cell engager R/R MM SAR444881K ILT2 mAb Solid tumors SAR4458773 PD1xIL15 fusion protein Solid tumors SAR445953L CEACAM5-Topo1 ADC Colorectal cancer Vaccines SP0237 mRNA Flu SP0287 Fluzone HD+Nuvaxovid Flu+COVID-19 SP0287 Flublok+Nuvaxovid Flu+COVID-19 SP0289 mRNA Flu (H5 pandemic) SP0256 (2) mRNA RSV+hMPV (older adults) SP0291 mRNA RSV+hMPV+PIV3 (older adults) SP0268 mRNA Acne Finance PipelineBusiness Appendices Pipeline appendices Finance appendices AbbreviationsCollaborations
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SAKIGAKE (JP) Xenpozyme – ASMD 37 Investor Relations As of December 31, 2024. For abbreviations, please see slide 41. Pipeline: regulatory designations since 2020 Orphan-drug Dupixent – BP, EoE (US) ALTUVIIIO – hemophilia A (US, EU) fitusiran – hemophilia A/B (US, EU) rilzabrutinib – ITP (US, EU, JP) Cerdelga – Gaucher (US) Nexviazyme – Pompe (US, JP) Xenpozyme – ASMD (US, EU, JP) venglustat – Fabry, Gaucher (US, EU, JP) Rezurock – cGvHD (US) riliprubart – CIDP (US, EU) Sarclisa – MM (US) SAR443579 – AML (US) Breakthrough-therapy Dupixent – AD (US) Dupixent – COPD (US) Dupixent – EoE (US) Rezurock – cGvHD (US) ALTUVIIIO – hemophilia A (US, CN) fitusiran – hemophilia A/B (US) Nexviazyme – Pompe (US) Xenpozyme – ASMD (US) tolebrutinib – nrSPMS (US) riliprubart – CIDP (CN) SAR447873 – GEP NET (US) Beyfortus – RSV (US, CN) PRIME (EU) Xenpozyme – ASMD Beyfortus – RSV SP0125 – RSV (toddlers) Priority review Dupixent – AD, PN (US, CN), EoE, COPD, CRSwNP adolescents (US) Kevzara – RA (US) TZIELD – T1D (CN) Rezurock – cGvHD (US) ALTUVIIIO – hemophilia A (US) Nexviazyme – Pompe (US, JP, CN) Cablivi – aTTP (JP) Xenpozyme – ASMD (US) Sarclisa – NDMM, 1L TI (US) Fexinidazole – HAT (US) Beyfortus – RSV (CN) Accelerated assessment Dupixent – PN (CN) Xenpozyme – ASMD (EU) Beyfortus – RSV (EU) Fast-track (US) itepekimab – COPD ALTUVIIIO – hemophilia A fitusiran – hemophilia A/B rilzabrutinib – ITP Nexviazyme – Pompe Xenpozyme – ASMD Venglustat – Fabry AAT recombinant Fc – AATD CD123 NKCE – AML Beyfortus – RSV SP0125 – RSV (toddlers) SP0202 – pneumococcal disease SP0087 – rabies Fluzone HD+Nuvaxovid – Flu+COVID-19 Flublok+Nuvaxovid – Flu+COVID-19 SP0289 – Flu (H5 pandemic) SP0256 – RSV+hMPV (older adults) Finance PipelineBusiness Appendices Pipeline appendices Finance appendices AbbreviationsCollaborations
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38 Investor Relations As of December 31, 2024. For abbreviations, please see slide 41. Illustrative. Pipeline: main clinical studies across disease areas Immunology Dupixent (IL4xIL13 mAb) - BP (NCT04206553) - CPUO (NCT05263206) - CSU (Study B: NCT04180488) - Ulcerative colitis (NCT05731128) - Eosinophilic gastritis (ENGAGE: NCT05831176) - Lichen simplex chronicus (STYLE 1: NCT06687967, STYLE 2: NCT06687980) amlitelimab (OX40L mAb) - Atopic dermatitis (COAST 1: NCT06130566, COAST 2: NCT06181435, SHORE: NCT06224348, AQUA: NCT06241118, ESTUARY: NCT06407934) - Asthma (TIDE-Asthma: NCT05421598) - Hidradenitis suppurativa (NCT06118099) - Alopecia areata (NCT06444451) - Celiac disease (NCT06557772) - Systematic sclerosis (CONQUEST: NCT06195072) itepekimab (IL33 mAb) - COPD (AERIFY-1:NCT04701983, AERIFY-2: NCT04751487, AERIFY-3: NCT05326412) - Bronchiectasis (NCT06280391) rilzabrutinib (BTK inhibitor) - Asthma (NCT05104892) - Chronic spontaneous urticaria (RILECSU: NCT05107115) - IgG4-related disease (NCT04520451) frexalimab (CD40L mAb) - Systemic lupus erythematosus (APATURA: NCT05039840) - Type 1 diabetes (FABULINUS: NCT06111586) balinatunfib (oral TNFR1si) - Psoriasis (SPECIFI-PSO: NCT06073119) - Rheumatoid arthritis (SPECIFI-RA: NCT06073093) - Crohn’s disease (SPECIFIC-CD: NCT06637631) duvakitug (TL1A mAb) - Crohn’s disease, ulcerative colitis (RELIEVE UCCD: NCT05499130) eclitasertib (RIPK1 inhibitor) - Ulcerative colitis (NCT05588843) lunsekimig (IL13xTSLP Nanobody VHH®) - Moderate to severe asthma (AIRCULES: NCT06102005) - High-risk asthma (AIRLYMPUS: NCT06676319) - Chronic rhinosinusitis with nasal polyps (NCT06454240) brivekimig (TNFaxOX40L Nanobody VHH®) - Hidradenitis suppurativa (HS OBTAIN NCT05849922) SAR444656 (IRAK4 degrader) - Atopic dermatitis (ADVANTA: NCT06058156) - Hidradenitis suppurativa (ZEN: NCT06028230) SAR444336 (non-beta IL2 SynthorinTM) - Inflammatory indication (NCT05876767) SAR445399 (IL1R3 mAb) - Inflammatory indication SAR446422 (CD28xOX40 bispecific Ab) - Inflammatory indication (NCT) SAR446959 (MMP13xADAMTS5xCAP Nanobody® VHH) - Knee osteoarthritis (NCT06704932) Rezurock (ROCK2 inhibitor) - Chronic lung allograft dysfunction (ROCKaspire: NCT06082037) - Chronic graft-versus-host disease, 1L (ROCKnrol-1: NCT06143891) Tzield (CD3 mAb) - Stage 2 Type 1 diabetes (PETITE-T1D: NCT05757713) - Stage 3 Type 1 diabetes (PROTECT Extension: NCT04598893) riliprubart (C1s inhibitor) - Antibody-mediated rejection (NCT05156710) Rare diseases Nexviazyme (enzyme replacement therapy) - Pompe disease infantile onset (Mini-COMET: NCT03019406) Venglustat (oral GCS inhibitor) - Fabry disease (PERIDOT: NCT05206773, CARAT: NCT05280548) - Gaucher disease type 3 (LEAP2MONO: NCT05222906) Fitusiran (RNAi targeting anti-thrombin) - Hemophilia A and B (ATLAS-OLE: NCT03754790, ATLAS-PEDS: NCT03974113) rilzabrutinib (BTK inhibitor) - ITP (LUNA 3: NCT04562766) - wAIHA (NCT05002777) SAR447537 (AAT fusion therapy) - Alpha-1 antitrypsin deficiency (NCT05856331, ELEVAATE OLE: NCT05897424) Neurology tolebrutinib (BTK inhibitor) - Non-relapsing SPMS (HERCULES: NCT04411641) - PPMS (PERSEUS: NCT04458051) frexalimab (CD40L mAb) - Relapsing MS (FREXALT: NCT06141473) - Non-relapsing SPMS (FREVIVA: NCT06141486) riliprubart (C1s inhibitor) - SOC-refractory CIDP (MOBILIZE: NCT06290128) - IVIg-treated CIDP (VITALIZE: NCT06290141) SAR446159 (synucleinxIGF1R mAb) - Parkinson’s disease (NCT05756920) Finance PipelineBusiness Appendices Pipeline appendices Finance appendices AbbreviationsCollaborations
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39 Investor Relations As of December 31, 2024. For abbreviations, please see slide 41. Illustrative. Pipeline: main clinical studies across disease areas Oncology Sarclisa (CD38 mAb) - MM, 1L TI (IMROZ: NCT03319667) - MM, 1L TE (GMMG-HD7: NCT03617731) - MM, 1L TE (IsKia: NCT04483739) - Smoldering MM (NCT04270409) - R/R MM (IRAKLIA: NCT05405166) SAR443579 (trifunctional anti-CD123 NK-cell engager) - Acute myeloid leukemia (NCT05086315, NCT06508489) SAR447873 (SSTR targeting alpha-emitter therapy) - Neuroendocrine tumors (ALPHAMEDIX02: NCT05153772) SAR445514 (trifunctional anti-BCMA NK-cell engager) - R/R MM (NCT05839626) SAR444881 (ILT2 mAb) - Solid tumors (NCT04717375) SAR445877 (PD1xIL15 fusion protein) - Solid tumors (NCT05584670) SAR445953 (CEACAM5-Topop1 ADC) - Colorectal cancer (NCT06131840) Vaccines SP0087 (vero cell) - Rabies (NCT04127786) SP0125 (live attenuated) - RSV (toddlers) (CORAL: NCT06397768, OPAL: NCT06705140) Fluzone HD (inactivated quadrivalent) - Flu 50y+ (NCT06641180) SP0202 (21-valent conjugate) - Pneumococcal disease (NCT06736041) SP0282 (9-valent conjugate) - E. coli sepsis (NCT04899336) SP0218 (vero cell) - Yellow fever (VYF02: NCT04942210) SP0230 (5-valent (ABCWY)) - Meningitis (NCT06128733) SP0256 (mRNA) - RSV+hMPV (older adults) (NCT06134648, NCT06686654) SP0237 (mRNA) - Flu (NCT06744205) SP0287 (Fluzone HD+Nuvaxovid) - Flu+COVID-19 (NCT06695117) SP0287 (Flublok+Nuvaxovid) - Flu+COVID-19 (NCT06695130) SP0289 (mRNA) - Flu (H5 pandemic) (NCT06727058) SP0335 (inactivated adjuvanted) - Flu pandemic (NCT06560151) SP0291 (mRNA) - RSV+hMPV+PIV3 (older adults) (NCT06604767) SP0268 (mRNA) - Acne (NCT06316297) Finance PipelineBusiness Appendices Pipeline appendices Finance appendices AbbreviationsCollaborations
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40 Investor Relations Collaborations Ref Name Developed in collaboration with… A Dupixent itepekimab Kevzara Regeneron B frexalimab ImmuNext C SP0202 SK bioscience D SP0282 Janssen Pharmaceuticals E eclitasertib Denali F SAR444656 Kymera G duvakitug Teva Pharmaceuticals H SAR443579 SAR445514 Innate Pharma I SAR447873 RadioMedix, Orano Med J SAR446159 ABL Bio K SAR444881 Biond Biologics L SAR445953 Pfizer Beyfortus AstraZeneca ALTUVIIIO Swedish Orphan Biovitrum AB (Sobi) Finance PipelineBusiness Appendices Pipeline appendices Abbreviations Collaborations Finance appendices
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41 Investor Relations Abbreviations AAT Alpha-1-antitrypsine AATD Alpha-1-antitrypsine deficiency Ab Antibody AD Atopic dermatitis ADC Antibody drug conjugate AML Acute myeloid leukemia ASMD Acid sphingomyelinase deficiency aTTP Acquired thromboticthrombocytopenic purpura BCMA B-cell maturation antigen BP Bullous pemphigoid BTK Bruton’s tyrosine kinase CD Cluster of differentiation CEACAM5 Carcinoembryonic antigen cell adhesion molecule 5 cGvHD Chronic graft-versus-host disease CIDP Chronic inflammatory demyelinating polyneuropathy COPD Chronic obstructive pulmonary disease CPUO Chronic pruritus of unknown origin CRSwNP Chronic rhinosinusitis without nasal polyps CSU Chronic spontaneous urticaria DO Delay onset EI Early intervention EoE Eosinophilic esophagitis GCS Glucosylceramide synthase GD1 Gaucher disease type 1 GD3 Gaucher disease type 3 GEP-NETs Gastroenteropancreatic neuroendocrine tumors HAT Human African trypanosomiasis HD High dose hMPV Human metapneumovirus HS Hidradenitis suppurativa IBD Inflammatory bowel disease IGF1R Insulin-like growth factor 1 receptor IL Interleukin ILT2 Ig-like transcript 2 IOPD Infante-onset Pompe disease IPV Inactivated poliovirus vaccine IRA (US) Inflation Reduction Act IRAK4 Interleukin 1 receptor associated kinase 4 ITP Immune thrombocytopenia IVIg Intravenous immunoglobulin LCM Life-cycle management mAb Monoclonal antibody MM Multiple myeloma mRNA Messenger RNA MS Multiple sclerosis NBRx New-to-brand prescription NDMM Newly diagnosed multiple myeloma NK Natural killer NKCE Natural killer cell engager NME New molecular entity nrSPMS Non-relapsing secondary progressive multiple sclerosis PCV Pneumococcal conjugate vaccine pJIA Polyarticular juvenile idiopathic arthritis PMR Polymyalgia rheumatica PN Prurigo nodularis PPMS Primary progressive multiple sclerosis RA Rheumatoid arthritis RIPK1 Receptor-interacting serine/threonine-protein kinase 1 RMS Relapsing multiple sclerosis RNAi RNA interference ROCK2 Rho associated coiled-coil containing protein kinase 2 R/R Relapsed/refractory RSV Respiratory syncytial virus SC Subcutaneous sJIA Systemic juvenile idiopathic arthritis SLE Systematic lupus erythematosus SSTR Somatostatin receptor SOC Standard of care T1D Type 1 diabetes TE Transplant eligible TI Transplant ineligible TL1A Tnf-like ligand 1A TNF Tumor necrosis factor TSLP Thymic stromal lymphopoietin T1D Type 1 diabetes UC Ulcerative colitis wAIHA Warm autoimmune hemolytic anemia Finance PipelineBusiness Appendices Pipeline appendices Abbreviations Collaborations Finance appendices
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Finance Pipeline Business Appendices