Slides
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Finance PipelineBusiness Appendices
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Results Q3 2025 October 24, 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, 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” 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 results 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, decisions 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 filed 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 related transactions and/or obtain regulatory clearances, risks associated with intellectual property and any related pending or future litigation and the ultimate outcome of such litigation, trends in exchange rates and prevailing interest rates, volatile economic and market conditions, cost containment initiatives and subsequent changes thereto, and the impact that 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. The risks and uncertainties also include the uncertainties discussed or identified in the public filings with the SEC and the AMF made by Sanofi, including those 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, 2024. With respect to any sustainability or environmental, social and governance (ESG)-related information contained herein, in light of the significant uncertainties inherent in such statements and other related information contained herein, investors should not regard these statements as a representation or warranty by Sanofi or any other person that Sanofi will achieve its goals, objectives, aspirations, metrics, plans or targets, which may be subject to evaluation and adjustment, in any specified time frame or at all, the achievement of which shall remain subject to other conditions and considerations both within and outside Sanofi’s control. 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. Abbreviations used in the main presentation are defined in the list of abbreviations. In the appendices, abbreviations are written in full the first time used. 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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Dupixent 4.2 +26.2% 5 Q3: continued sales growth; 2025 sales guidance unchanged Investor Relations All percentage changes at CER. 1. ALTUVIIIO, Nexviazyme, Sarclisa, Ayvakit, Rezurock, Cablivi, Xenpozyme, Tzield, Qfitlia, and Wayrilz. • Pharma launches Performance driven by ALTUVIIIO and Ayvakit • Vaccines Lower influenza sales • Other medicines Decline from divestment/legacy medicines • Dupixent First time sales exceeded €4bn in a quarter • 2025 sales guidance unchanged High single-digit percentage growthPharma launches1 Vaccines Other medicines 1.0 +57.1% 3.4 -7.8% 3.8 -3.8% €12.4bn +7% (€bn) Finance Pipeline Business Appendices
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Sales (€m) Q3 739 294 200 155 1371 114 66 57 20 18 4 1 €1,805m +40.8% 6 Launches: now contributing 15% of sales Investor Relations All percentage changes at CER. 1. Consolidated from July 17, 2025. On a pro-forma basis, Q3 2025 sales were $204m, an increase of 59% from $128m in Q3 2024. NEW NEW NEW Finance Pipeline Business Appendices
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920 1,083 2,556 3,073 Q3 2024 Q3 2025 7 Dupixent: exceeded €4bn in quarterly sales for the first time All percentage changes at CER. 1. August 2025 vs. August 2024; Sanofi internal data. 2. AD, asthma, CRSwNP, EoE, and PN. 3. IQVIA data with internal projections. Performance Continuously expanding benefit to more patients >30% increase in number of active patients on medicine1 Exceeded €3bn in quarterly sales for the first time Strong volume growth in established indications2 and launches (COPD, CSU, BP) #1 NBRx and #1 TRx market shares3 in established indications • CSU: positive CHMP recommendation (EU) • CSU children: submission acceptances (EU, US)Outside US +21.3% 3,476 US +27.9% 4,156 Sales (€m) +26.2% Investor Relations Finance Pipeline Business Appendices
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645 739 761 642 484 451 8 Vaccines: sales impacted by flu, as expected All percentage changes at CER. -7.8% 1,913 Q3 2024 1,525 Q3 2025 3,803 3,357 Investor Relations Influenza, COVID-19 Competitive price pressure and lower US vaccination rate First Nuvaxovid sales by Sanofi RSV Beyfortus further growth, now available in more than 40 countries RSV toddler phase 3 program discontinued due to futility Polio/Pertussis/Hib primary and booster vaccines Delivery phasing earlier in the year in some public markets Beyfortus Influenza, COVID-19 Meningitis, travel, and endemic PPH and booster vaccines Sales (€m) Finance Pipeline Business Appendices
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9 Investor Relations 1. The standard-dose vaccines used in the FLUNITY-HD study were VaxigripTetra (Sanofi) and InfluvacTetra (Viatris registered trademark). Standard-dose vaccines often serve as the primary influenza prevention option for the general population. 2. https://www.thelancet.com/journals/lancet/article/PIIS0140-6736(25)01742-8/fulltext?rss=yes. 3. Data on file. BARDA: US Department of Health and Human Services, Administration for Strategic Preparedness and Response, The Center for the Biomedical Advanced Research and Development Authority. Flu/COVID-19: enhancing protection and expanding coverage FLUNITY-HD2: world’s largest effectiveness phase 4 study with 466k older adults across two geographical areas and three flu seasons Positive phase 3 readout3 supporting Fluzone HD age extension to 50 to 64-year-olds • mRNA: phase 1/2 data showed >90% seroprotection across all dosages3 • BARDA: new phase 1/2 study awarded for Fluzone antigen and Matrix-M® adjuvant • Positive immunogenicity and safety phase 1/2 data for both Fluzone HD and Flublok combinations with non-mRNA Nuvaxovid3 Fluzone HD/Efluelda Superior Protection Beyond Flu1 compared to standard dose Flu pandemic Advancing preparedness Flu+COVID-19 combination Improving convenience -8.8% pneumonia or influenza hospitalization NEW -31.9% laboratory confirmed influenza hospitalization Finance Pipeline Business Appendices
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2021 2022 2023 2024 2025 2030 10 Improving access to healthcare Investor Relations 1. Starting on January 1, 2026. Under this expanded program, any American with a valid prescription will be able to purchase any combination, type, and quantity of Sanofi insulins for a fixed monthly price of $35. patients reached with non-communicable diseases treatments 2 million in >40 LMICs 1 million Actual (period 2021 - Q3 2025) Target (period 2021 - 2030) Global Health Unit Low- and middle-income countries Improving affordability United States Ensuring Americans have access to reliable and affordable supply of critical medicines Continuously expanding affordability program: from people without insurance to all US patients regardless of insurance status healthcare professionals and community health workers trained27,800+ All Sanofi insulins at $35 per month1all beneficiariesreached through NCD programs4m+ Finance Pipeline Business Appendices
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Finance Q3 2025 Finance Pipeline Business Appendices
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12 Sales growth driven by Pharma. Negative forex impact Investor Relations All changes at CER unless stated otherwise. Sales (€m) 12,157 13,012 12,434 1,150 Q3 2025 at actual exchange rates ForexQ3 2025 at CERPharmaQ3 2024 at actual exchange rates Vaccines -578-295 +2% at actual exchange rates +7% Finance PipelineBusiness Appendices
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13 Q3: delivering profitable growth Investor Relations All percentage changes at CER. 1. Margin at actual exchange rates. 13 Sales Growth driven by Immunology and launches Business gross margin +2.3pp, driven by improved product mix, productivity gains Operating expenses R&D: moderate increase Sales & marketing: support of launches G&A: slight decline Business operating income Higher business gross profit, operating expense leverage, partly offset by profit sharing Business EPS +13.2%, reflecting operating income growth and share buyback (€m) Q3 2024 Q3 2025 Change Net sales 12,157 12,434 +7.0% Other revenues 820 736 -5.9% Business gross profit 9,317 9,815 +10.6% Business gross margin 76.6%1 78.9%1 +2.3pp R&D -1,802 -1,834 +4.9% SG&A -2,232 -2,291 +7.1% Operating expenses -4,034 -4,125 +6.1% Percentage of net sales 33.2% 33.2% — Other operating income and expenses -993 -1,303 +39.1% Business operating income 4,327 4,445 +8.5% Business operating margin 35.6%1 35.7%1 +0.1pp Effective tax rate 20.0% 19.3% -0.7pp Total business net income 3,411 3,547 +9.8% Average number of shares, million 1,253.0 1,218.1 -2.8% Business EPS 2.72 2.91 +13.2% Finance PipelineBusiness Appendices
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14 2025 business dynamics to consider; 2026 trends Investor Relations All percentage changes at CER. Barring unforeseen events. For full-year 2025, and based on October 2025 average currency exchange rates, a currency impact of approximately -4% on sales and -6% on business EPS is anticipated. 1. Excludes any impact from hyperinflation. 2. Before share buyback. 3. For additional details, please refer to the appendix slide 29. 4. Based on Evaluate Pharma Dynamic consensus as of October 7, 2025, with EUR/USD at 1.15. Guidance (at CER) Sales growth: Business EPS gowth: Full-year 2025 Business gross margin increase Capital gains (divestments) c.€500m Effective tax rate broadly stable vs. 2024 Other medicines divestments c.€200m Beyfortus modest growth R&D expenses increase; acquired businesses Flu mid-teens percentage decline Early trends for 2026 Operating expense control • R&D: moderate increase • Sales and marketing: increase to support growth/launches • General and admin: stable Other operating income/expenses • Capital gains (divestments): c.€500m • REGN development balance3: decrease by c.€300m • Amvuttra royalty3:c.€700m4 Pursue sustainable, profitable growthhigh single-digit percentage1 low double-digit percentage2 Finance PipelineBusiness Appendices
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Pipeline Finance Pipeline Business Appendices
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16 Pipeline: Q3 highlights Investor Relations Dupixent CSU children (US PDUFA Apr 27, EU) Tzield T1D, stage 3, delay progression (US) Wayrilz ITP (JP) Sarclisa subcutaneous (US PDUFA Apr 23, EU, JP, CN) Wayrilz ITP (US) Tzield T1D, stage 2, delay onset of stage 3 (CN) amlitelimab AD (COAST 1) primary endpoints met Fluzone HD influenza 50 years+ primary endpoint met Regulatory approvals Regulatory submission acceptances Phase 3 readouts lunsekimig COPD (PERSEPHONE) Wayrilz SCD, wAIHA Phase 3 starts Now approved in ITP in the US Becoming a potential new multi-immune modulation platform in rare diseases wAIHA • Orphan drug (US) • Phase 3 SCD • Orphan drug (US) • Phase 3 Graves’ disease • Phase 2 NEW NEW NEW ITP • Under review (EU, JP, CN) • Orphan (US, EU, JP) IgG4-related disease • Orphan (US, EU) • Fast track (US) Finance Pipeline Business Appendices
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17 Dermatology: effective treatment in AD; a potential in HS Investor Relations Source: amlitelimab COAST 1 phase 3 study (clinical study identifier: NCT06130566); https://www.sanofi.com/en/media-room/press-releases/2025/2025-09-04-05-00-00-3144170. Source: brivekimig HS OBSTAIN phase 2 study (clinical study identifier: NCT05849922); please refer to the European Academy of Dermatology and Venerology 2025 annual congress. a. From Week 8-16, two participants treated with brivekimig withdrew from the study. b. Mantel-Haenszel estimate for common rate difference stratified by baseline Hurley stage. amlitelimab All primary and key secondary endpoints met in AD phase 3 study brivekimig Achieved primary objective in HS phase 2 study Clinically meaningful improvement in skin clearance Progressive efficacy increase, with no plateau Patient-friendly quarterly dosing No new safety concerns identified in this study Placebo-adjusted vIGA-AD (treatment policy) Participants achieving HiSCR75a OCEANA AD Program with adolescents, biologics experienced, and different geographies, full data anticipated through 2026 0 20 40 60 0 4 8 12 16Week placebo RRD: 32% adjusted RRDb: 29% 90% CI: 11% to 48% 54% 22% Clinically meaningful improvements in primary and key secondary endpoints in biologic-naïve patients compared to placebo at Week 16. Well tolerated with no serious adverse events Phase 2b starting recruitment NEW Finance Pipeline Business Appendices
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18 Respiratory: progress in asthma and emphysema Investor Relations Source: amlitelimab TIDE-Asthma phase 2 study (clinical study identifier: NCT05421598); please refer to the European Respiratory Society 2025 annual congress. Source: efdoralprin alfa ElevAATe phase 2 study (clinical study identifier: NCT05856331); https://www.sanofi.com/en/media-room/press-releases/2025/2025-10-22-05-00-00-3170787. ElevAATe OLE phase 2 study (clinical study identifier: NCT05897424). Adjusted annualized event rate of severe exacerbations over 48 weeks across all patients 0.60 0.46 0.31 0.45 0.00 0.25 0.50 0.75 22.6% p=0.36 47.8% p=0.01 24.5% p=0.22 placebo 62.5 mg + LD 125 mg + LD 250 mg + LD n=127 n=61 n=125 n=124 primary endpoint % AER reduction over 48 weeks compared to placebo in patients with heterogenous inflammation -55.0% -78.8% -72.3% -10 0% -75 % -50 % -25 % 0% 62.5 mg + LD 125 mg + LD 250 mg + LD n=8 n=33 n=27 p=0.001 p=0.007 p=0.19 AAT recombinant protein with less frequent dosing Potential to restore and maintain functional AAT levels Q3W and Q4W dosing demonstrated superiority versus a Q1W standard of care plasma-derived therapy, with statistically significant superior functional AAT Ctrough, ss at Week 32 (p<0.0001) Phase 2 open-label study recruiting, adding 3-year safety data Potential for US regulatory submission in H2 2026 Heterogeneous inflammation characterized by high blood eosinophils (≥300 cells/µL) and elevated neutrophils (≥4000 cells/µL), showed the greatest benefit. Well tolerated, no new safety concerns Next step in development subject to prioritizations in the overall respiratory portfolio amlitelimab amlitelimab Encouraging efficacy, specifically in difficult-to-treat subgroup in phase 2 study efdoralprin alfa All primary and key secondary endpoints met in AATD emphysema in phase 2 study Finance Pipeline Business Appendices
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19 Other highlights: Oncology/Immunology Investor Relations Source: SAR447873 ALPHAMEDIX-02 phase 2 study (clinical study identifier: NCT05153772); https://www.sanofi.com/en/media-room/press-releases/2025/2025-10-20-06-30-00-3169092. 1. ACR20 primary endpoint did not show a statistically significant improvement due to very high placebo-response (>50%). SAR447873 (212Pb-DOTAMTATE) Phase 2 study in patients with SSTR+ GEP-NETs PRRT-naïve patients: 57.1% overall response rate (95% CI: 39.4–73.7), based on blinded independent central review PRRT-exposed patients: 19.2% overall response rate (95% CI: 6.6–39.4) Phase 3 studies to start imminently Crohn’s disease program Ulcerative colitis program balinatunfib (oral TNFR1 inhibitor) duvakitug (TL1A mAb) Manageable safety profile that was similar across both cohorts Generally well tolerated over the short 12-week treatment period Potential as a combination backbone with internal and external oral medicines. Next step currently being evaluated Phase 2 study in MTX inadequate responders and advanced-treament naïve RA patients showed clinically meaningful efficacy on exploratory endpoints requiring deeper disease control1 Two replicate studies of subcutaneous duvakitug in each indication Builds on positive phase 2 data presented earlier in the year Finance Pipeline Business Appendices
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phase 2 asthma potential LCM 20 Pipeline: key mid- and late-stage development projects Investor Relations For additional details, please refer to the clinical study slide 39-40. *Itepekimab met the primary endpoint in one of two COPD phase 3 studies. Itepekimab’s future development in COPD is dependent on further analysis of phase 3 data and regulatory feedback. A check mark indicates the availability of the first data for/achievement of the clinical development milestone mentioned in the box; green colour indicates primary endpoint(s) met; red cross indicates phase 3 primary endpoint not met. Immunology phase 2 CIndU, CSU starting phase 2 MC Vaccines phase 3 AD potential LCM phase 2a HS potential LCM phase 2 IBD starting phase 3 phase 2 potential safe combo lunsekimig SAR449028 (BLU-808) SAR444336 (non-beta IL2) amlitelimab brivekimig duvakitug balinatunfib itepekimab phase 3 COPD* With partnerWholly owned Neurology phase 3 RRMS, SPMS phase 3 CIDP potential LCM frexalimab riliprubart tolebrutinib submitted SPMS (extended PDUFA Dec.28) phase 3 PPMS Rare diseases/Oncology phase 3 Fabry disease, GD3 phase 2 AATD phase 2 GEP-NETs phase 3 SMelenestinib venglustat efdoralprin alfa SAR447873 Wayrilz approved ITP (US) potential LCM approved 1L, R/R MM submitted SC Sarclisa Fluzone HD SP0087 SP0202 SP0218 SP0230 SP0256 phase 3 flu 50 years+ phase 3 pneumococcal disease children phase 3 yellow fever phase 2 meningitis phase 2 RSV older adults SP0289/SP0335 phase 2 flu H5 pandemic phase 3 rabies Finance Pipeline Business Appendices
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21 Pipeline: upcoming news flow Investor Relations Key pipeline news flow only. For abbreviations, please see slide 42. phase 3 data readout [ regulatory submissionphase 2 data readout regulatory decision Q4 2025 H1 2026 H2 2026 SP0230 – meningitis SP0256 – RSV older adults tolebrutinib – PPMS SP0218 – yellow fever Dupixent – LSC (US) Wayrilz – ITP (JP, CN) amlitelimab – AD Nexviazyme – IOPD (US) efdoralprin alfa – AATD (US) Fluzone HD – flu 50y+ (EU) amlitelimab – AD (full data) Nexviazyme – IOPD lunsekimig – asthma venglustat – Fabry disease eclitasertib – UC venglustat – GD3 Dupixent – AFRS (US) Dupixent – CSU (EU) SP0087 – rabies (US, EU) teplizumab – T1D, S2 (EU) teplizumab – T1D, S3 (EU) Qfitlia – hemophilia A/B (CN) Wayrilz – ITP (EU) tolebrutinib – SPMS (US) tolebrutinib – PPMS (US, EU) Dupixent – BP (EU, JP, CN) venglustat – Fabry disease (US) Dupixent – CSU children (US, EU) venglustat – GD3 Tzield – T1D, S3 (US) Fluzone HD – flu 50y+ (US) tolebrutinib – SPMS (EU) Cerezyme – GD3 (US) Sarclisa – subcutaneous (US, EU, JP) 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 Finance Pipeline Business Appendices Pipeline appendices Abbreviations Collaborations Finance appendices
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24 Investor Relations All percentage changes at CER. Sales Q3 2025 (€m) Change Dupixent 4,156 26.2% Influenza, COVID-19 vaccines 1,525 -16.8% Beyfortus 739 19.8% Polio/Pertussis/Hib primary and booster vaccines 642 -12.2% Meningitis, travel, and endemic vaccines 451 -1.9% Lantus 438 6.7% Toujeo 321 9.2% ALTUVIIIO 294 81.4% Fabrazyme 242 -0.4% Plavix 223 1.3% Nexviazyme/Nexviadyme 200 27.6% Lovenox 196 -14.6% Cerezyme 161 0.6% Sarclisa 155 41.2% Alprolix 149 7.4% Ayvakit 137 - Kevzara 131 26.6% Praluent 127 1.6% Myozyme 122 -25.0% Thymoglobulin 118 3.3% Finance PipelineBusiness Appendices Pipeline appendices AbbreviationsCollaborations Finance appendices
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25 Investor Relations Currency impact Sales (€m) Business EPS (€) -335 -116 +98 -384 -578 -0.12 -0.06 +0.02 -0.10 Q3 Q4 Q1 2024 Q2 2025 Q3 Q4 2024 Q3 2025 Q3 -0.17 Q2Q1 Finance PipelineBusiness Appendices Pipeline appendices AbbreviationsCollaborations Finance appendices
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26 Investor Relations Currency sensitivity and exposure Currency Variation Net sales sensitivity Business EPS sensitivity US Dollar +0.05 USD/EUR -€968m -€0.18 Japanese Yen +5 JPY/EUR -€55m -€0.02 Chinese Yuan +0.2 CNY/EUR -€69m -€0.02 Brazilian Real +0.4 BRL/EUR -€53m -€0.01 Currency average rates Q3 2024 Q3 2025 Change €/US Dollar 1.099 1.168 +6.3% €/Yen 163.727 172.29 +5.2% €/Yuan 7.876 8.365 +6.2% €/Real 6.095 6.366 +4.4% €/Ruble 98.161 94.158 -4.1% US Dollar 56.2% Euro 17.6% Chinese Yuan 5.4% Japanese Yen 2.7% Canadian Dollar 1.6% Brazilian Real 1.5% British Pound 1.2% South-Korean Won 1.0% Mexican Peso 1.0% Turkish Lira 0.9% Others 10.9% Currency exposure on Q3 2025 sales2025 business EPS currency sensitivity Finance PipelineBusiness Appendices Pipeline appendices AbbreviationsCollaborations Finance appendices
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27 Investor Relations Free cash flow definition is in appendix 9 of the Q3 2025 results press release. 1. Other includes €206m of factoring, -€78m of Capex net of depreciations, -€38m of interests paid, €110m of tax paid, €160m of restructuring, -€230m of forex impact and -€163m of other items excluding tax. Free cash flow 3,187 2,994 368 -273 -255 -33 (€m) Free cash flow Q3 2025 Free cash flow Q3 2024 Business operating income at CER Change in working capital excluding tax Acquisition net of proceeds before tax Other1 Finance PipelineBusiness Appendices Pipeline appendices AbbreviationsCollaborations Finance appendices
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-10.7 28 Investor Relations Credit ratings reaffirmed: Moody’s Aa3/stable, S&P AA/stable, Scope AA/stable as of September 30, 2025. 1. Including derivatives used to manage net debt: €213m on December 31, 2024 and €62m on September 30, 2025. 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, investments and other long-term financial assets and proceeds from disposals net of taxes not exceeding a cap of €500m per transaction (inclusive of all payments related to the transaction) of €1,415m and -€527m respectively and includes transactions that are above a cap of €500m per transaction (inclusive of all payments related to the transaction) of €9,546m. 5. Including €491m of restructuring costs and similar items paid; -€98m of Opella net debt reclassified to held for sale as of December 31, 2024; €357m of other items; -€170m of issuance of Sanofi shares; -€136m of net cash provided by/(used in) the discontinued Opella Business. Net debt evolution 4.1 4.8 0.4 11.1 10.4 8.8 -6.8 Net debt December 31, 20241,2 Net debt September 30, 20251,2 FCF3 M&A and BD activity4 Other5 (€bn) Acquisition of treasury shares Dividends paidNet cash inflow from the Opella transaction Finance PipelineBusiness Appendices Pipeline appendices AbbreviationsCollaborations Finance appendices
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29 Investor Relations 1. Sanofi funds 100% upfront until first positive phase 3, then 80% thereafter. 2. Via a quarterly payment of 20% of Regeneron's profit share. 3. As of December 31, 2024, the “Development Balance” amounted to €1.6bn. 4. End of payment expected in the second half of 2026. 5. Alnylam medicine. 6. Royalty details: 15% from $0-$150m; 17.5% from $150m-$300m; 20% from $300m-$500m; 25% from $500m-$1.5bn; and 30% above $1.5bn. 7. Evaluate Pharma Dynamic consensus as of October 7, 2025 with EUR/USD at last best estimate for 2025 (including Q4 projected rates) and 1.15 for 2026/2027. Considerations for other operating income and expenses 0.8 0.7 1.0 Regeneron development balance reimbursement (€bn) Amvuttra® royalty7 (€bn) 2023 20243 2025 20264 2027 Indicative (Sanofi estimates) 0 -0.3 -0.8 2023 2024 2025 2026 2027 0.1 0.2 0.4 Indicative (Evaluate Pharma Dynamic consensus) 0.7 0.8 +0.3 +0.3 1.1 Reimbursement of development balance by Regeneron • Sanofi funds majority of development costs¹ • Regeneron reimburses up to 50% of cumulative costs² Amvuttra® royalty5 • Recently approved in the US and the EU for cardiomyopathy of transthyretin-mediated amyloidosis • Royalty on global net sales in all indications (30% on sales above $1.5bn)6 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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Cerezyme enzyme replacement therapy Gaucher disease type 3 (US) tolebrutinib BTK inhibitor secondary progressive multiple sclerosis (US, EU) Sarclisa CD38 mAb subcutaneous relapsed/refractory multiple myeloma aficamten cardiac myosin inhibitor hypertrophic cardiomyopathy (CN) plozasiran RNAi targeting APOC3 familial chylomicronemia syndrome (CN) 31 Investor Relations As of September 30, 2025. For collaborations (superscripted by capital letters), please see slide 41. For abbreviations, please see slide 42. Pediatric and adolescents’ indication extensions are not included. *Itepekimab’s future development in COPD is dependent on further analysis of phase 3 data and regulatory feedback. 1. Also known as fitusiran, currently in phase 3 in the EU. 2. Also known as Tzield in the US. 3. Also known as SAR441344. 4. Also known as SAR445088. 5. Also known as SP0178. Pipeline: registration and phase 3 Immunology DupixentA IL4xIL13 mAb allergic fungal rhinosinusitis chronic pruritus of unknown origin lichen simplex chronicus itepekimabA IL33 mAb chronic obstructive pulmonary disease* chronic rhinosinusitis with nasal polyps amlitelimab OX40L mAb atopic dermatitis lunsekimig IL13xTSLP Nanobody® VHH chronic obstructive pulmonary disease Rezurock ROCK2 inhibitor chronic lung allograft dysfunction Neurology tolebrutinib BTK inhibitor primary progressive multiple sclerosis frexalimabB,3 CD40L mAb relapsing multiple sclerosis non-relapsing secondary progressive multiple sclerosis riliprubart4 C1s mAb SOC-refractory chronic inflammatory demyelinating polyneuropathy IVIg-treated chronic inflammatory demyelinating polyneuropathy Rare diseases Nexviazyme enzyme replacement therapy infantile-onset Pompe disease venglustat oral GCS inhibitor Fabry disease Gaucher disease type 3 Wayrilz BTK inhibitor Sickle cell disease warm autoimmune hemolytic anemia elenestinib D816V-mutated KIT inhibitor indolent/smoldering systemic mastecytosis Oncology Sarclisa CD38 mAb newly diagnosed multiple myeloma, transplant eligible (HD7) (US) newly diagnosed multiple myeloma, transplant eligible (IsKia) smoldering multiple myeloma (ITHACA) Phase 3 Registration DupixentA IL4xIL13 mAb bullous pemphigoid (EU, JP, CN) chronic spontaneous urticaria (EU) Qfitlia1 RNAi targeting anti-thrombin hemophilia A and B (CN) Wayrilz BTK inhibitor immune thrombocytopenia (EU, JP, CN) teplizumab2 CD3 mAb type 1 diabetes, stage 2 (EU) type 1 diabetes, stage 3 (US, EU) Vaccines Fluzone HD5 multivalent inactivated flu 50 years+ SP0087 vero cell rabies SP0202C 21-valent conjugate pneumococcal disease children SP0218 vero cell yellow fever Finance PipelineBusiness Appendices Pipeline appendices Finance appendices AbbreviationsCollaborations
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32 Investor Relations As of September 30, 2025. For collaborations (superscripted by capital letters), please see slide 41. For abbreviations, please see slide 42. 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 SAR442970. 6. Also known as SAR447189/TEV’574. 7. Also known as SAR445088. 8. Also known as BLU-808. 9. Also known as SAR447537 and formerly known as INBRX-101. 10. 212 Pb-dotamtate/AlphaMedix. 11. Also known as KD050. Pipeline: phase 2 Rare diseases Wayrilz BTK inhibitor Graves’ disease IgG4-related disease efdoralprin alfa9 AAT fusion protein alpha-1 antitrypsin deficiency emphysema frexalimab rilzabrutinib brivekimig CD40L mAb BTK inhibitor TNFaxOX40L Nanobody® VHH focal segmental glomerulosclerosis/ minimal change disease Oncology Sarclisa CD38 mAb relapsed/refractory multiple myeloma SAR447873F,10 SSTR targeting alpha-emitter therapy gastroenteropancreatic neuroendocrine tumors SAR44587711 PD1xIL15 fusion protein solid tumors Immunology DupixentA IL4xIL13 mAb ulcerative colitis itepekimabA IL33 mAb bronchiectasis chronic rhinosinusitis without nasal polyps amlitelimab OX40L mAb alopecia areata asthma celiac disease systemic sclerosis rilzabrutinib BTK inhibitor asthma chronic spontaneous urticaria frexalimabC,1 CD40L mAb systemic lupus erythematosus type 1 diabetes balinatunfib2 oral TNFR1 signaling inhibitor crohn’s disease rheumatoid arthritis ulcerative colitis lunsekimig3 IL13xTSLP Nanobody® VHH asthma asthma, high-risk atopic dermatitis chronic rhinosinusitis with nasal polyps eclitasertibD,4 RIPK1 inhibitor ulcerative colitis brivekimig5 TNFaxOX40L Nanobody® VHH Crohn’s disease hidradenitis suppurativa type 1 diabetes ulcerative colitis duvakitugE,6 TL1A mAb Crohn’s disease ulcerative colitis Vaccines SP0230 5-valent ACWY+B meningitis SP0256 (1) mRNA respiratory syncytial virus older adults SP0268 mRNA acne SP0289 mRNA flu H5 pandemic SP0335 inactivated adjuvanted flu H5 pandemic Immunology riliprubart7 C1s mAb antibody-mediated rejection SAR4490288 wild-type KIT inhibitor chronic induced/spontaneous urticaria allergic rhinoconjunctivitis Finance PipelineBusiness Appendices Pipeline appendices Finance appendices AbbreviationsCollaborations
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33 Investor Relations As of September 30, 2025. For collaborations (superscripted by capital letters), please see slide 41. For abbreviations, please see slide 42. Pediatric and adolescents’ indication extensions are not included. 1. Also known as MAB212, in-licensed from MAB Discovery. 2. Also known as DR-0201. 3. Also known as ABL301. 4. Formerly known as VG-3927. Pipeline: phase 1 Immunology SAR444336 non-beta IL2 SynthorinTM inflammatory indication SAR4453991 IL1R3 mAb inflammatory indication SAR445514G trifunctional anti-BCMA NK-cell engager inflammatory indication SAR446422 CD28xOX40 bispecific Ab inflammatory indication SAR446959 MMP13xADAMTS5xCAP Nanobody® VHH knee osteoarthritis SAR4485012 CD20 bispecific mAb inflammatory indication Vaccines SP0237 mRNA flu SP0287 Fluzone HD+Nuvaxovid flu+COVID-19 SP0287 Flublok+Nuvaxovid flu+COVID-19 SP0256 (2) mRNA respiratory syncytial virus+human metapneumovirus older adults SP0291 mRNA respiratory syncytial virus+human metapneumovirus+parainfluenza type 3 older adults SP0269 mRNA chlamydia Oncology SAR445953I CEACAM5-Topo1 ADC colorectal cancer SAR446523 GPRC5D mAb relapsed/refractory multiple myeloma Neurology SAR402663 AAV2-sFLT01 gene therapy wet age-related macular degeneration SAR446159H,3 synucleinxIGF1R mAb Parkinson’s disease SAR4488514 TREM2 agonist Alzheimer’s disease Finance PipelineBusiness Appendices Pipeline appendices Finance appendices AbbreviationsCollaborations
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34 Investor Relations As of September 30, 2025. For abbreviations, please see slide 42. Pipeline: partnerships with rights to license Partner Target Indication Nurix STAT6 degrader inflammatory indication Recludix STAT6 inhibitor small molecule inflammatory indication Recursion orally active small molecules inflammatory indication, oncology Earendil Labs (Helixon) TL1Axa4b7 mAb inflammatory indication TL1AxIL23p19 mAb C4X oral IL17A inhibitor inflammatory indication Kymera IRAK4 degrader inflammatory indication Scribe Tx RNA-guided CRISPR-associated programs rare disease Innate anti-B7H3 NK cell engager oncology SK bioscience next-generation conjugate vaccines children, adults pneumococcal disease Finance PipelineBusiness Appendices Pipeline appendices Finance appendices AbbreviationsCollaborations
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35 Investor Relations As of September 30, 2025. For abbreviations, please see slide 42. Pipeline: Q3 appendix changes New in Regulatory Wayrilz – immune thrombocytopenia (US approved) Removed from Registration Submission teplizumab – type 1 diabetes, stage 2 (EU) Submission teplizumab – type 1 diabetes, stage 3 (US, EU) Submission Sarclisa SC – relapsed/refractory multiple myeloma Submission aficamten – hypertrophic cardiomyopathy (CN) Submission plozasiran – familial chylomicronemia syndrome (CN) Phase 3 Dupixent – allergic fungal rhinosinusitis lunsekimig – chronic obstructive pulmonary disease Wayrilz – Sickle cell disease Wayrilz – warm autoimmune hemolytic anemia elenestinib – indolent/smoldering systemic mastecytosis Phase 2 brivekimig – Crohn’s disease brivekimig – ulcerative colitis SAR449028 – chronic induced/spontaneous urticaria SAR449028 – allergic rhinoconjunctivitis Wayrilz – Graves’ disease Phase 1 SAR448851 – Alzheimer’s disease Designations US FTD SAR446268 – myotonic dystrophy type 1 US ODD SAR402663 – wet age-related mediated degeneration US ODD efdoralprin alfa – alpha-1 antitrypsin deficiency emphysema US priority review Tzield – type 1 diabetes, stage 3 US priority review Cablivi – children acquired thrombotic thromobocytopenia purpura Phase 3 teplizumab – type 1 diabetes (in registration) Sarclisa SC – relapsed/refractory multiple myeloma (in registration) SP0125 – respiratory syncytial virus (toddlers) (terminated) Phase 2 Wayrilz – warm autoimmune hemolytic anemia (moved to phase 3) Finance PipelineBusiness Appendices Pipeline appendices Finance appendices AbbreviationsCollaborations
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SAKIGAKE (JP) Xenpozyme – ASMD 36 Investor Relations As of September 30, 2025. For abbreviations, please see slide 42. 1. In additon to the CNPV granted by the FDA. Pipeline: regulatory designations since 2020 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 – SPMS (US) riliprubart – CIDP (CN) SAR447873 – GEP-NETs (US) Beyfortus – RSV (US, CN) PRIME (EU) Xenpozyme – ASMD Beyfortus – RSV SP0125 – RSV (toddlers) Fast track (US) itepekimab – COPD ALTUVIIIO – hemophilia A Qfitlia – hemophilia A/B rilzabrutinib – ITP, IgG4-RD Nexviazyme – Pompe Xenpozyme – ASMD venglustat – Fabry AAT recombinant Fc – AATD SAR446268 – DM1 SAR446597 – GA SAR402663 – wet AMD 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) SP0269 – chlamydia Priority review Dupixent – AD, PN (US, CN), EoE, COPD, CRSwNP adolescents (US) Kevzara – RA (US) teplizumab – T1D (US1, CN) Soliqua – T2D (CN) Rezurock – cGvHD (US) ALTUVIIIO – hemophilia A (US) Nexviazyme – Pompe (US, JP, CN) Cablivi – aTTP (children US, JP) Xenpozyme – ASMD (US) tolebrutinib – SPMS (US) Sarclisa – NDMM, 1L TI (US) Fexinidazole – HAT (US) Beyfortus – RSV (CN) Accelerated assessment Dupixent – PN (CN) Xenpozyme – ASMD (EU) Beyfortus – RSV (EU) Orphan Dupixent – BP, EoE (US) ALTUVIIIO – hemophilia A (US, EU) Qfitlia – hemophilia A/B (US, EU) rilzabrutinib – ITP (US, EU, JP), wAIHA (US), IgG4-RD (US, EU), SCD (US) Rezurock – cGvHD (US) Cerdelga – Gaucher (US) Nexviazyme – Pompe (US, JP) Xenpozyme – ASMD (US, EU, JP) venglustat – Fabry, Gaucher diseases (US, EU, JP) efdoralprin alfa – AATD SAR446268 – DM1 (US, EU) riliprubart – CIDP (US, EU, JP), AMR (US) Sarclisa – MM (US) SAR446523 – R/R MM (US) Finance PipelineBusiness Appendices Pipeline appendices Finance appendices AbbreviationsCollaborations
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37 Investor Relations As of September 30, 2025. Illustrative; selected projects only. Dashed lines represent future clinical study starts, barring unforeseen events. For abbreviations, please see slide 42. 1. itepekimab’s future development in COPD is dependent on further analysis of phase 3 data and regulatory feedback. What’s next: Immunology Finance PipelineBusiness Appendices Pipeline appendices Finance appendices AbbreviationsCollaborations
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New fields pneumococcal disease 21-valent conjugate phase 3 acne mRNA phase 2 chlamydia mRNA phase 1 PPH primary and booster vaccines hexa, penta, quadrivalent approved boosters approved Meningitis, travel, and endemic meningitis 5-valent ACWY+B phase 2 yellow fever vero cell phase 3 rabies vero cell phase 3 yellow fever vero cell phase 3 rabies vero cell phase 3 yellow fever vero cell phase 3 rabies vero cell phase 3 MenQuadfi 4-valent ACWY approved yellow fever/rabies/typhoid/hepatitis A approved RSV Beyfortus RSV mAb approved RSV combination mRNA phase 1/2 Influenza, COVID-19 flu mRNA phase 1 flu H5 pandemic mRNA, inactivated adjuvanted phase 2 Flublok+COVID-19, Fluzone HD+COVID-19 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 38 Investor Relations As of September 30, 2025. Illustrative; selected projects only. For abbreviations, please see slide 42. What’s next: Vaccines Finance PipelineBusiness Appendices Pipeline appendices Finance appendices AbbreviationsCollaborations
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39 Investor Relations As of September 30, 2025. For abbreviations, please see slide 42. Pipeline: main clinical studies across disease areas Immunology Dupixent (IL4xIL13 mAb) - AFRS (LIBERTY-AFRS-AI: NCT04684524) - BP (NCT04206553) - CPUO (NCT05263206) - CSU (Study B: NCT04180488) - UC (NCT05731128) - lichen simplex chronicus (STYLE 1: NCT06687967, STYLE 2: NCT06687980) itepekimab (IL33 mAb) - COPD (AERIFY-1:NCT04701983, AERIFY-2: NCT04751487, AERIFY-3: NCT0532641, AERIFY-4: NCT06208306) - CRSwNP (CEREN 1: NCT06834347, CEREN 2: NCT06834360) - bronchiectasis (NCT06280391) - CRSsNP (NCT06691113) amlitelimab (OX40L mAb) - AD (COAST 1: NCT06130566, COAST 2: NCT06181435, SHORE: NCT06224348, AQUA: NCT06241118, ESTUARY: NCT06407934) - asthma (TIDE-Asthma: NCT05421598) - alopecia areata (NCT06444451) - celiac disease (NCT06557772) - systematic sclerosis (CONQUEST: NCT06195072) Rezurock (ROCK2 inhibitor) - chronic lung allograft dysfunction (ROCKaspire: NCT06082037) teplizumab (CD3 mAb) - T1D, stage 2 (delay onset of stage 3) (PETITE-T1D: NCT05757713) - T1D, stage 3 (delay progression) (PROTECT Extension: NCT04598893) - T1D, stage 3 (delay progression) (BETA PRESERVE: NCT07088068) rilzabrutinib (BTK inhibitor) - asthma (NCT05104892) - CSU (RILECSU: NCT05107115) frexalimab (CD40L mAb) - SLE (APATURA: NCT05039840) - T1D, stage 3 (FABULINUS: NCT06111586) balinatunfib (oral TNFR1si) - RA (SPECIFI-RA: NCT06073093) - CD (SPECIFIC-CD: NCT06637631) - UC (SPECIFIC-UC: NCT06867094) lunsekimig (IL13xTSLP Nanobody® VHH) - moderate to severe asthma (AIRCULES: NCT06102005) - high-risk asthma (AIRLYMPUS: NCT06676319) - AD (NCT06790121) - COPD (PERSEPHONE: NCT07190209, THESEUS: NCT07190222) - CRSwNP (NCT06454240) eclitasertib (RIPK1 inhibitor) - UC (NCT05588843) brivekimig (TNFaxOX40L Nanobody® VHH) - CD (NCT06958536) - HS (HS OBTAIN NCT05849922) - T1D, stage 3 (NCT06812988) - UC (NCT06975722) duvakitug (TL1A mAb) - CD/UC (RELIEVE UCCD: NCT05499130) riliprubart (C1s inhibitor) - AMR (NCT05156710) SAR449028 (wild-type KIT inhibitor) - chronic induced/spontaneous urticaria (NCT06931405) - allergic rhinoconjunctivitis (NCT06922448) SAR444336 (non-beta IL2 SynthorinTM) - inflammatory indication (NCT05876767) SAR445399 (IL1R3 mAb) - inflammatory indication SAR445514 (trifunctional anti-BCMA NK-cell engager) - inflammatory indication SAR446422 (CD28xOX40 bispecific Ab) - inflammatory indication SAR446959 (MMP13xADAMTS5xCAP Nanobody® VHH) - knee osteoarthritis (NCT06704932) SAR448501 (CD20 bispecific antibody) - inflammatory indication (NCT06647069) Rare diseases Qfitlia (RNAi targeting anti-thrombin) - hemophilia A and B (ATLAS-OLE: NCT03754790, ATLAS-PEDS: NCT03974113) Wayrilz (BTK inhibitor) - Graves’ disease (NCT06984627) - IgG4-RD (NCT04520451) - ITP (LUNA 3: NCT04562766) - Sickle cell disease (LIBRA: NCT06975865) - wAIHA (LUMINA 3: NCT07086976) Nexviazyme (enzyme replacement therapy) - IOPD (Mini-COMET: NCT03019406) venglustat (oral GCS inhibitor) - Fabry disease (PERIDOT: NCT05206773, CARAT: NCT05280548) - GD3 (LEAP2MONO: NCT05222906) elenestinib (oral KIT D816V inhibitor) - indolent/smoldering systemic mastecytosis (HARBOR: NCT04910685) Finance PipelineBusiness Appendices Pipeline appendices Finance appendices AbbreviationsCollaborations
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40 Investor Relations As of September 30, 2025. For abbreviations, please see slide 42. Pipeline: main clinical studies across disease areas Oncology Sarclisa (CD38 mAb) - MM, 1L TE (GMMG-HD7: NCT03617731) - MM, 1L TE (IsKia: NCT04483739) - smoldering MM (NCT04270409) - R/R MM (IRAKLIA: NCT05405166) - R/R MM (NCT04643002) SAR447873 (SSTR targeting alpha-emitter therapy) - GEP-NETs (ALPHAMEDIX02: NCT05153772) SAR445877 (PD1xIL15 fusion protein) - solid tumors (NCT05584670) SAR445953 (CEACAM5-Topop1 ADC) - colorectal cancer (NCT06131840) SAR446523 (GPRC5D mAb) - R/R MM (NCT06630806) Vaccines Fluzone HD (inactivated quadrivalent) - flu (50 years+) (NCT06641180) SP0087 (vero cell) - rabies (NCT04127786) SP0202 (21-valent conjugate) - pneumococcal disease (NCT06736041, NCT06975878) SP0218 (vero cell) - Yellow fever (NCT07002060) SP0230 (5-valent (ACWY+B)) - meningitis (NCT06128733) SP0256 (mRNA) - RSV+hMPV (older adults) (NCT06134648, NCT06686654) SP0268 (mRNA) - acne (NCT06316297) SP0289 (mRNA) - flu (H5 pandemic) (NCT06727058) SP0335 (inactivated adjuvanted) - flu pandemic (NCT06560151) SP0237 (mRNA) - flu (NCT06744205) SP0287 (Fluzone HD+Nuvaxovid) - flu+COVID-19 (NCT06695117) SP0287 (Flublok+Nuvaxovid) - flu+COVID-19 (NCT06695130) SP0291 (mRNA) - RSV+hMPV+PIV3 (older adults) (NCT06604767) SP0269 (mRNA) - chlamydia (NCT06891417) Neurology tolebrutinib (BTK inhibitor) - SPMS (HERCULES: NCT04411641) - PPMS (PERSEUS: NCT04458051) frexalimab (CD40L mAb) - RMS (FREXALT: NCT06141473) - nrSPMS (FREVIVA: NCT06141486) riliprubart (C1s inhibitor) - SOC-refractory CIDP (MOBILIZE: NCT06290128) - IVIg-treated CIDP (VITALIZE: NCT06290141) - long-term study (NCT06859099) SAR446159 (synucleinxIGF1R mAb) - Parkinson’s disease (NCT05756920) SAR402663 (AAV2-sFLT01 gene therapy) - wet AMD (NCT06660667) SAR448851 (TREM2 agonist) - Alzheimer’s disease (NCT06343636) Rare diseases frexalimab/rilzabrutinib/brivekimig - focal segmental glomerulosclerosis/minimal change disease (RESULT: NCT06500702) efdoralprin alfa (AAT fusion therapy) - AATD (NCT05856331, ELEVAATE OLE: NCT05897424) Finance PipelineBusiness Appendices Pipeline appendices Finance appendices AbbreviationsCollaborations
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41 Investor Relations Collaborations Ref Name Companies A Dupixent itepekimab Kevzara Regeneron B frexalimab ImmuNext C SP0202 SK bioscience D eclitasertib Denali E duvakitug Teva Pharmaceuticals F SAR447873 RadioMedix, Orano Med G SAR445514 Innate Pharma H SAR446159 ABL Bio I SAR445953 Pfizer ALTUVIIIO Swedish Orphan Biovitrum (Sobi) Beyfortus AstraZeneca Nuvaxovid Novavax aficamten Cytokinetics plozasiran Arrowhead Finance PipelineBusiness Appendices Pipeline appendices Abbreviations Collaborations Finance appendices
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42 Investor Relations Abbreviations AAT alpha-1-antitrypsine AATD alpha-1-antitrypsine deficiency AAV2 adeno-associated virus 2 Ab antibody AD atopic dermatitis ADC antibody drug conjugate AML acute myeloid leukemia AMR antibody-mediated rejection APOC3 apolipoprotein C3 ASMD acid sphingomyelinase deficiency aTTP acquired thromboticthrombocytopenic purpura ATTR-CM transthyretin amyloid cardiomyopathy BCMA B-cell maturation antigen BLA biologic license application 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 CI confidence interval CIDP chronic inflammatory demyelinating polyneuropathy CIndU cold induced urticaria COPD chronic obstructive pulmonary disease CRISPR clustered regularly interspaced short palindromic repeats CSU chronic spontaneous urticaria C1s complement component 1s dAMD dry age-related macular degeneration DM1 myotonic dystrophy type 1 DO delay onset EI early intervention EoE eosinophilic esophagitis FeNO fractional exhaled nitric oxide FEV1 forced expiratory volume in 1 second GA geographic atrophy GCS glucosylceramide synthase GD1/3 Gaucher disease type 1 or 3 GEP-NETs gastroenteropancreatic neuroendocrine tumors GPRC5D G-protein-coupled receptor class 5 member D HAT human african trypanosomiasis HD high dose HiSCR hidradenitis suppurativa clinical response hMPV human metapneumovirus HS hidradenitis suppurativa IBD inflammatory bowel disease vIGA validated investigator global assessment IGF1R insulin-like growth factor 1 receptor IgG4-RD IgG4-related disease IL interleukin IOPD infante-onset pompe disease IRAK4 interleukin-1 receptor-associated kinase-4 ITP immune thrombocytopenia IV intravenous IVIg intravenous immunoglobulin LCM lifecycle management LD loading dose LSC lichen simplex chronicus mAb monoclonal antibody MM multiple myeloma mRNA messenger RNA MTX methotrexate NBRx new-to-brand prescription NDMM newly diagnosed multiple myeloma NfL neurofilament light chain NK natural killer OBI on-body injector OX40L OX40 ligand pJIA polyarticular juvenile idiopathic arthritis PMR polymyalgia rheumatica PN prurigo nodularis PPMS primary progressive multiple sclerosis PRRT peptide receptor radionuclide therapy Q4/12W every four/twelve weeks RA rheumatoid arthritis RIPK1 receptor-interacting serine/threonine-protein kinase 1 RNAi RNA interference ROCK2 rho associated coiled-coil containing protein kinase 2 RRD response rate difference RRMS relapsing-remitting multiple sclerosis R/R relapsed/refractory RSV respiratory syncytial virus SC subcutaneous SCD Sickle cell disease sJIA systemic juvenile idiopathic arthritis SLE systematic lupus erythematosus SM systemic mastocytosis SSTR somatostatin receptor SOC standard of care SPMS secondary progressive multiple sclerosis SS steady state STAT6 signal transducerand activatorof transcription 6 TE transplant-eligible TI transplant-ilegible TL1A TNF-like ligand 1a TNF tumor necrosis factor TREM2 triggering receptor expressed on myeloid cells 2 TRx total prescriptions TSLP thymic stromal lymphopoietin T1/2D type 1/2 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