Slide 1: Q3 2021 Results
Q3 2021 Results Play to Win October 28, 2021
Slide 2: Forward looking statements
Forward looking statements 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 underlyi
Slide 3: Agenda
Agenda Paul Hudson Chief Executive Officer Corporate update John Reed Global Head of R&D Bill Sibold Specialty Care Thomas Triomphe Vaccines Business update Olivier Charmeil General Medicines Julie Van Ongevalle Consumer Healthcare Financial results Jean-Baptiste de Chatillon Chief Financial Officer
Slide 4: Outstanding quarterly performance drives guidance upgrade
Outstanding quarterly performance drives guidance upgrade Sales and EPS growth Dupixent® up €0.5bn Vaccines record sales Company Sales +10% €1,410m €2,422m Q3 2021 €10,432m €2,077m Q3 2020 €9,479m €918m +55% +17% Business EPS +19% Q3 2021 €2.18 Q3 2020 €1.83 Q3 2020 Q3 2021 Q3 2020 Q3 2021 Full Year
Slide 5: Targeted bolt-ons strengthen Sanofi's key growth areas
Targeted bolt-ons strengthen Sanofi’s key growth areas Rapid acceleration in mRNA Opportunity for growth in GenMed • Pillar to the company’s mRNA Center of • Adding to the portfolio of core assets of General Excellence Medicines, highly complementary of the growing transplant franchise(1) • Developi
Slide 6: Delivering R&D milestones and building momentum
Delivering R&D milestones and building momentum Recent R&D progress Upcoming key milestones • Four phase 3 readouts for Dupixent® Target Expected Product Milestones Indication Timeline Chronic spontaneous urticaria Dupixent® AD 6m-5yrs Submission in US Q4 2021 Atopic dermatitis - 6m to 5yrs COVI
Slide 7: Targeting underlying disease mechanisms in Neurology
Targeting underlying disease mechanisms in Neurology Tolebrutinib (brain-penetrant BTKi) Phase 2b extension in RRMS showed 98% of patients remained on treatment after 1 year(1) Low mean MRI lesion activity(2) Annualized relapse rate (ARR) of 0.17 over the 48-week treatment period with majority of pa
Slide 8: Dupixent – quarterly sales nearly tripled in the last 2 years
Dupixent® – quarterly sales nearly tripled in the last 2 years Continued strong performance in Q3 Global Dupixent® Q3 sales (€m) • Worldwide growth of +55% vs Q3 2020 • €1bn sales in US in one quarter 1,410 +55% • Ex-US contributing 25% of sales driven by Europe and Japan 349 Ex-U.S. 918 +80%(2) In-
Slide 9: Dupixent – accelerating critical milestones in Type 2 inflammatory diseases
Dupixent® – accelerating critical milestones in Type 2 inflammatory diseases Since 2022e Q2’ 21 Chronic spontaneous urticaria Asthma Pivotal results Part A Asthma 6-11 yo EU approval Atopic Dermatitis 12 – 17 yo Approval in China Prurigo nodularis Second study & submission Atopic Dermatitis 6m – 5 y
Slide 10: Continued business momentum across Specialty Care
Continued business momentum across Specialty Care Rare Disease strong growth contribution from Pompe Specialty growth drivers in Q3 2021 (€m) • U.S. launch of Nexviazyme® in August Myozyme®/ €267m N&I franchise benefited from Kevzara® Nexviazyme® +11% • Increased market demand for IL-6 receptor bloc
Slide 11: Record Q3 sales driven by differentiated Flu vaccines
Record Q3 sales driven by differentiated Flu vaccines Flu sales increased to €1,339m (26%) driven by Vaccines up by 17% Fluzone® HD / EflueldaTM +9% €2,422m • Europe grew 88% due to successful EflueldaTM +26% +19% +€14m +€50m expansion mainly resulting from STIKO +€22m recommendation in Germany +€39
Slide 12: Strong market preference for brands recognizing superior protection
Strong market preference for brands recognizing superior protection Differentiated flu brands representing Value of differentiated product 2/3 of Sanofi Flu sales in Q3 acknowledged by our partners 1,339m Join myWalgreens! +26% 1,065m Click here or see below for all offer terms & conditions. +53% Fl
Slide 13: COVID-19 recombinant vaccine program
COVID-19 recombinant vaccine program 1 PHASE 3 SAFETY & EFFICACY TRIAL – Primary vaccine Monovalent Enrollment Efficacy Readout Stage 1: 10µg parent strain about to be completed (1) By December 2021 Bivalent Enrollment Stage 2: 5µg parent + 5µg Beta strains started MAY-21 JUL-21 OCT-21 NOV-21 DEC-21
Slide 14: General Medicines core assets continued to deliver in Q3
General Medicines core assets continued to deliver in Q3 Performance of branded core assets in Q3 2021 General Medicines Q3 sales of €3.6bn (-1.7%) €383m +4% Core assets growth drivers, €1.4bn (+4.5%(1)) €239m • Demand driven growth of Toujeo®, Soliqua® and +11% Praluent® €222m • Lovenox® trends sta
Slide 15: Leveraging Sanofi's experience in transplant
Leveraging Sanofi’s experience in transplant Kadmon acquisition announced in September Well-positioned in growing transplant market(2) • Transaction expected to close in Q4 Sanofi first nine months 2021 transplant sales €433m, +15% • Expected to be accretive starting in 2022 Adds Rezurock™ first-in-
Slide 16: Advancing on simplification and digitalization to create an accretive and resilient GenMed business
Advancing on simplification and digitalization to create an accretive and resilient GenMed business Streamlining the number of branded product families ~300 • Continuous streamlining of EP ~220 portfolio generated ~€0.9bn cash ~180 proceeds from divestments 2019 to ~160 Q3 2021 • Two exclusive distr
Slide 17: CHC Q3 sales of €1.2bn with growth across all geographies
CHC Q3 sales of €1.2bn with growth across all geographies Progressively closing growth gap to the market CHC Q3 2021 sales up 11% Driving growth with key categories +17% +18% +16% • Pain Care benefited from COVID-19 vaccinations • Digestive Wellness growth driven by Enterogermina®, Buscopan®, and Du
Slide 18: 19% EPS growth driven by gross margin and continued expense management
19% EPS growth driven by gross margin and continued expense management % Change €m Q3 2021 Q3 2020 (CER) Q3 earnings drivers Net Sales 10,432 9,479 +10.1% Other revenues 397 400 +0.2% • Double digit top-line growth driven by Dupixent®, Vaccines and CHC Gross Profit 7,591 6,720 +13.0% Gross margin %
Slide 19: Reinvesting €1.5bn in growth
Reinvesting €1.5bn in growth -€0.4bn R&D 0.2 Savings -0.7 Reinvestment 23.2 0.8 Cumulative OPEX -0.5 -0.4 22.8 -0.4 0.5 SG&A Cumulative OPEX R&D R&D R&D priority S&M S&M S&M G&A Cumulative OPEX 2019 to H1 2020 Priorization efficiencies assets & Specialty Vaccines Genmed 2020 to H1 2021 acquisitions
Slide 20: Expected business dynamics in Q4 2021
Expected business dynamics in Q4 2021 Specialty Care expected to grow with Dupixent® as key driver; GenMed core assets expected to grow overall, Lovenox® stable; Pharmaceuticals additional divestitures planned; China VBP Wave 5 implementation and uncertainties around mechanism for insulin class incl
Slide 21: FY 2021 business EPS guidance raised
FY 2021 business EPS guidance raised Around Business EPS 14% at CER(1,2) growth FX impact Approximately -3.5% to -4.5%(3) on business EPS based on October 2021 average exchange rates (1) Compared to FY2020 and barring major unforeseen adverse events (2) Base for FY 2020 Business EPS growth is €5.86
Slide 22: Taking bold action against climate change
Taking bold action against climate change PRIOR AMBITION NEW AMBITION Carbon Neutrality by 2050 (scope 1, 2) Carbon Neutrality by 2030 (scope 1, 2 & 3) Net Zero: no objective Net Zero objective by 2050 Switch to renewable electricity Other key ESG environment 12% related initiatives 37% 50% Renewabl
Slide 23: Q&A session
Q&A session Paul Hudson Jean Baptiste de Chatillon Karen Linehan CEO CFO, Legal Affairs and General Counsel Bill Sibold Speciality Care Olivier Charmeil Julie van Ongevalle General Medicines Consumer Healthcare John Reed R&D Thomas Triomphe Vaccines
Slide 24: R&D appendices
R&D appendices Q3 2021 results October 28, 2021
Slide 25: Expected 2021 R&D key timelines
Expected 2021 R&D key timelines Achieved / Product Milestones Comment Missed(1) avalglucosidase alfa U.S. regulatory decision, PDUFA May 18 (Pompe disease) × Achieved, August 6th Libtayo®(2) U.S. regulatory decision, PDUFA Feb 28 (1L NSCLC PD-L1 >50%) ✓ Approved Libtayo®(2) U.S. regulatory decision,
Slide 26: R&D Pipeline – Phase III & Registration
R&D Pipeline – Phase III & Registration Phase III Registration Name Description Indication Name Description Indication amcenestrant SERD + palbociclib 1L Metastatic breast cancer Libtayo®(1) Anti-PD-1 mAb 2L Cervical Cancer Libtayo®(1) Anti-PD-1 mAb + chemotherapy 1L NSCLC Dupixent®(1) Anti-IL4/IL13
Slide 27: R&D Pipeline – Phase I & II
R&D Pipeline – Phase I & II Phase I Phase II Name Description Indication Name Description Indication SAR439459 Anti-TGFb mAb Advanced Solid Tumors R amcenestrant SERD 2/3L Metastatic Breast Cancer SAR441000(4) Cytokine mRNA Solid tumors amcenestrant SERD Early Breast Cancer SAR442085 Anti-CD38 mAb F
Slide 28: Expected submission timelines
Expected submission timelines(1) amcenestrant fitusiran NMEs 2/3L mBC Hemophilia A/B SP0253(4) efanesoctocog alfa(5) nirsevimab(6) tusamitamab ravtansine venglustat itepekimab(3) rilzabrutinib tolebrutinib COVID-19 Hemophilia A Respiratory syncytial virus 2/3L NSCLC GM2 gangliosidosis COPD ITP RMS 2
Slide 29: Financial appendices
Financial appendices Q3 2021 results October 28, 2021
Slide 30: YTD Sept P&L
YTD Sept P&L €m 9M 2021 9M 2020 % Change (CER) Net Sales 27,767 26,659 +8.2% Other revenues 993 974 +8.1% Gross Profit 19,981 18,967 +9.6% Gross margin % 72.0% 71.1% R&D (4,106) (4,013) +4.9% SG&A (6,797) (6,789) +3.6% Operating Expenses (10,903) (10,802) +4.1% Other current operating income & expen
Slide 31: Q3 sales and EPS
Q3 sales and EPS Currency impact Company sales Business EPS -€0m -€0 -480 -0.12 -0.11 -561 -628 -595 -0.15 -0.15 Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 2020 2021 2020 2021 31
Slide 32: Net debt evolution in 9M 2021
Net debt evolution in 9M 2021(1) -€ 201 €10 427 € 8,790 € 4,008 € 781 -€ 6 968 € 4,478 -€ 461 Net Debt Net Debt FCF before Proceeds from Asset Restructuring Dividends paid Other(4) Net NetDebt Debt December restructuring, disposals acquisition & similar items to shareholders September December 31, a
Slide 33: 2021 currency sensitivity and Q3 2021 currency exposure
2021 currency sensitivity and Q3 2021 currency exposure 2021 Business EPS Currency Sensitivity Currency Variation Business EPS Sensitivity U.S. Dollar + 0.05 USD/EUR - EUR 0.13 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 Russian R
Slide 34: Regeneron Collaboration Accounting Summary
Regeneron Collaboration Accounting Summary Last Updated: September 2021
Slide 35: Sanofi accounting of Antibody License and Collaboration Agreement with Regeneron
Sanofi accounting of Antibody License and Collaboration Agreement with Regeneron(1) U.S. Ex-U.S. Net sales Sanofi consolidates worldwide net sales Cost of sales Sanofi consolidates worldwide cost of sales Development costs funded upfront by Sanofi until first positive Phase 3; subsequent costs funde
Slide 36: Sanofi Libtayo accounting pursuant to immuno-oncology License and Collaboration Agreement with Regeneron
Sanofi Libtayo® accounting pursuant to immuno-oncology License and Collaboration Agreement with Regeneron(1,2) U.S. Ex-U.S. Net sales Consolidated by Regeneron Consolidated by Sanofi Cost of sales Consolidated by Regeneron Consolidated by Sanofi R&D expenses Sanofi reimburses 50% of development expe
Slide 37: ESG appendices
ESG appendices Q3 2021 results October 28, 2021
Slide 38: Rating Agencies
Sanofi ESG ratings NEW 1st pharmaceutical company out of 57 Vigeo Eiris Score of 62 out of 100 Score in progress since 2018 Score of 24.75 Sustainalytics 13th among 432 pharmaceutical companies Medium Risk Dow Jones Sustainability 4th in ranking among 83 pharmaceuticals Score of 84 out of 100 Indice