Sanofi Sa · EURONEXT:SAN
Sanofi Sa — Merger or Acquisition (October 2026)
21 slides from Sanofi Sa's merger presentation, Oct 1, 2026
Slide 1: A New Chapter for the Regeneron-Sanofi Alliance
A New Chapter for the Regeneron-Sanofi Alliance: Adding the Next Generation of Type 2 Inflammation Medicines October 1, 2026
Slide 2: Regeneron note regarding forward-looking statements
Regeneron note regarding forward-looking statements This presentation includes forward-looking statements that involve risks and uncertainties relating to future events and the future performance of Regeneron Pharmaceuticals, Inc. (“Regeneron” or the “Company”), and actual events or results may diff
Slide 3: Sanofi forward-looking statements
Sanofi forward-looking statements This document contains forward-looking statements within the meaning of applicable securities laws, including the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are statements that are not historical facts. These statements
Slide 4: Agenda & Speakers
Agenda & Leonard Schleifer Belén Garijo Speakers Co-Founder, Board co-Chair, President, and Chief Executive Officer Chief Executive Officer Extending & strengthening a successful, 20-year Alliance • Opening a new chapter for the Regeneron-Sanofi Alliance • Legacy of successful collaboration • Sustai
Slide 5: Executive summary
Leonard Schleifer Belén Garijo Co-Founder, Board co-Chair, Chief Executive Officer President, and Chief Executive Officer Executive summary • Opening a new chapter for the Regeneron-Sanofi Alliance • Legacy of successful collaboration • Sustaining leadership in atopic dermatitis • Leveraging highly
Slide 6: Opening a new chapter for the Regeneron-Sanofi Alliance
Opening a new chapter for the Regeneron-Sanofi Alliance Strategic Rationale, Deal Construct, and Key Financial Terms Expand Alliance leadership in Type 2 inflammatory diseases beyond Dupixent • Combine Regeneron and Sanofi development capabilities to launch new innovative medicines • Leverage global
Slide 7: Two decades of successful collaboration for the Alliance
Two decades of successful collaboration for the Alliance From initial discovery agreement in 2007 to one of the most widely used innovative antibody medicines in the world 2007 2017 April 2026 Global antibody collaboration Dupixent approved in U.S. Dupixent reaches 1.5M+ launched, leading to multipl
Slide 8: Dupixent: Setting the standard for Type 2 inflammatory diseases
Dupixent: Setting the standard for Type 2 inflammatory diseases #1 biologic medicine prescribed in the U.S. by Dupixent global net sales dermatologists, pulmonologists, allergists, and ENTs – (€ billion, recorded by Sanofi) based on efficacy, safety, and ease-of-use profile Annualizing at >€20B* Lea
Slide 9: Significant opportunity to sustain leadership in atopic dermatitis with long-acting IL13
Significant opportunity to sustain leadership in atopic dermatitis with long-acting IL13 Market potential: Large and Unmet need: Opportunity Portfolio strategy: Alliance growing, underpenetrated to offer superior dosing leadership as a strong atopic dermatitis market convenience to patients foundati
Slide 10: Atopic dermatitis market is large and growing, yet underpenetrated with unmet needs
Atopic dermatitis market is large and growing, yet remains underpenetrated with unmet needs Atopic Dermatitis: large market and growth HCPs indicate their atopic dermatitis patients l opportunity for advanced therapies l would prefer longer-dosing biologics More than 2.5 million eligible moderate- t
Slide 11: Alliance to continue leveraging highly successful R&D and commercial platforms
Alliance to continue leveraging highly successful R&D and commercial platforms to accelerate next-generation medicines Research & Development Specialty reach • Regeneron’s pioneering and highly-innovative antibody • Established and growing in-market presence across discovery platform dermatology, al
Slide 12: Stronger Alliance with improved governance for newly-added antibodies
Stronger Alliance with improved governance for newly-added antibodies Development decision rights Commercial decision rights Regeneron has final decision-making authority on Sanofi retains final commercial decision-making, development including on pricing Aligned financial commitments to support dev
Slide 13: George Yancopoulos: Differentiated Next-Generation Opportunities
George Yancopoulos Co-Founder, Board co-Chair, President, and Chief Scientific Officer Differentiated Next-Generation Opportunities • Dupixent development: Alliance’s track record of success • Long-acting antibodies for IL13, IL4xIL13 bispecific, IL4Rα, & IL4 • Development plans & timelines 13
Slide 14: Alliance delivered Dupixent's "pipeline in a product" potential
Alliance delivered Dupixent’s “pipeline in a product” potential Regeneron invents dupilumab using proprietary VELOCIMMUNE® platform Atopic Asthma Atopic Atopic Dermatitis Adults/ Dermatitis CRSwNP Dermatitis Adolescents 12+ Adolescent 12+ Adults 18+ Ped 6-11 Adults 18+ U.S. & EU: 2017 U.S: 2018 | EU
Slide 15: Regeneron programs added to the Alliance
Regeneron programs added to the Alliance Four long-acting fully-human antibodies invented by Regeneron that are designed to extend dosing intervals for Type 2 diseases M O S T A D V A N C ED D U A L LI G A ND NE W A NTI B O D Y, S A M E B L O C K I NG THE L I G A ND , B LO C K E R TA R G E T A S D U
Slide 16: Accelerated development plan for next-generation antibodies
Accelerated development plan for next-generation antibodies Leverage joint learnings from the development of Dupixent to move as rapidly as possible 2026 2027 2028 2029 2030 2031 2032 Long-acting IL13 Phase 1 / Phase 2 Registration-enabling (REGN20423) Long-acting IL4xIL13 Phase 1 / Phase 2 Registra
Slide 17: Francois Roger: Transaction terms
Francois Roger Executive Vice President, Chief Financial Officer Transaction terms • Key financial and operational terms 17
Slide 18: Key financial terms for expanded Alliance
Key financial terms for expanded Alliance ALLIANCE MILESTONES TOTAL POTENTIAL CONSIDERATION PAYABLE TO REGENERON Upfront payment $1.0B Up to $8.0 billion Development milestone $1.0B SHARED 50:50 FINANCIAL REPORTING • Profit split on a global basis for all • Consistent with current financial Regulato
Slide 19: Closing remarks
Leonard Schleifer Belén Garijo Co-Founder, Board co-Chair, Chief Executive Officer President, and Chief Executive Officer Closing remarks 19
Slide 20: Extending a proven Alliance to the next generation of Type 2 medicines
Extending a proven Alliance to the next generation of Type 2 medicines Adds four next-generation antibodies to the Alliance Long-acting antibodies for IL13, IL4xIL13, IL4Rα, and IL4 invented by Regeneron join an Alliance that developed and commercialized one of the most widely used innovative antibo
Slide 21: A New Chapter for the Regeneron-Sanofi Alliance Q&A
A New Chapter for the Regeneron-Sanofi Alliance Q&A October 1, 2026