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Segment information | 12 Months Ended
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Dec. 31, 2022
Operating Segments [Abstract] |
Segment information | Segment information As indicated in Note B.26., Sanofi has three operating segments: Pharmaceuticals, Vaccines, and Consumer Healthcare. The Pharmaceuticals segment comprises, for all geographical territories, the commercial operations of the following global franchises: Specialty Care (Dupixent®, Neurology & Immunology, Rare Diseases, Oncology, and Rare Blood Disorders) and General Medicines (Core and Non-Core Assets), together with research, development and production activities dedicated to the Pharmaceuticals segment. This segment also includes associates whose activities are related to pharmaceuticals. Following the transaction of May 29, 2020, Regeneron is no longer an associate of Sanofi (see Note D.2.). Consequently, the Pharmaceuticals segment no longer includes Sanofi’s equity-accounted share of Regeneron’s profits for the periods presented. The Vaccines segment comprises, for all geographical territories, the commercial operations of Vaccines, together with research, development and production activities dedicated to vaccines. The Consumer Healthcare segment comprises, for all geographical territories, the commercial operations for Sanofi’s Consumer Healthcare products, together with research, development and production activities dedicated to those products. Inter-segment transactions are not material. The costs of Sanofi's global support functions (Corporate Affairs, Finance, People & Culture, Legal, Ethics & Business Integrity, Information Solutions & Technologies, Sanofi Business Services, etc.) are primarily managed centrally at the group-wide level. The costs of those functions are presented within the “Other” category. That category also includes other reconciling items such as retained commitments in respect of divested activities. Following the Capital Markets Day in February 2021, Sanofi changed the presentation of the net sales of the General Medicines and Consumer Healthcare GBUs, and also reallocated certain expenses. In particular, IT costs relating to Sanofi's new digital organization – previously allocated to the Pharmaceuticals, Vaccines, and Consumer Healthcare segments – are now included within the “Other” segment. The 2020 segment results presented below have been amended for comparative purposes in order to reflect those adjustments. In accordance with IAS 8, Sanofi treated the first-time application of the IFRIC agenda decisions on (i) the calculation of provisions for pensions and other post-employment benefits under IAS 19 and (ii) accounting for costs of configuring or customizing a supplier’s application software in a Software as a Service (SaaS) arrangement as retrospective changes in accounting policy. The impacts are described in Note A.2.1 to the consolidated financial statements for the year ended December 31, 2021. D.35.1. Segment results D.35.1.1. Analysis of net sales The table below sets forth Sanofi’s net sales for the years ended December 31, 2022, 2021 and 2020:
(€ million) | Europe | United States | Other countries | 2022 | Europe | United States | Other countries | 2021 | Europe | United States | Other countries | 2020
Pharmaceuticals | 7,157 |  | 13,694 |  | 9,837 |  | 30,688 |  | 7,201 |  | 10,484 |  | 9,285 |  | 26,970 |  | 6,819 |  | 9,635 |  | 9,220 |  | 25,674 |
Dupixent® | 940 |  | 6,346 |  | 1,007 |  | 8,293 |  | 649 |  | 3,971 |  | 629 |  | 5,249 |  | 386 |  | 2,808 |  | 340 |  | 3,534 |
Neurology & Immunology | 639 |  | 1,637 |  | 174 |  | 2,450 |  | 638 |  | 1,482 |  | 204 |  | 2,324 |  | 578 |  | 1,631 |  | 185 |  | 2,394 |
of which | Aubagio® | 511 |  | 1,420 |  | 100 |  | 2,031 |  | 512 |  | 1,312 |  | 131 |  | 1,955 |  | 473 |  | 1,448 |  | 124 |  | 2,045 |
Rare Diseases | 1,104 |  | 1,367 |  | 974 |  | 3,445 |  | 1,069 |  | 1,142 |  | 915 |  | 3,126 |  | 1,010 |  | 1,122 |  | 879 |  | 3,011 |
of which | Cerezyme® | 239 |  | 194 |  | 274 |  | 707 |  | 244 |  | 173 |  | 266 |  | 683 |  | 249 |  | 177 |  | 264 |  | 690 |
| Fabrazyme® | 228 |  | 471 |  | 239 |  | 938 |  | 223 |  | 395 |  | 226 |  | 844 |  | 200 |  | 406 |  | 211 |  | 817 |
| Myozyme®/ Lumizyme® | 408 |  | 318 |  | 232 |  | 958 |  | 410 |  | 373 |  | 220 |  | 1,003 |  | 389 |  | 359 |  | 200 |  | 948 |
Oncology | 239 |  | 515 |  | 198 |  | 952 |  | 327 |  | 410 |  | 175 |  | 912 |  | 299 |  | 368 |  | 131 |  | 798 |
of which | Jevtana® | 33 |  | 275 |  | 83 |  | 391 |  | 112 |  | 253 |  | 90 |  | 455 |  | 187 |  | 246 |  | 103 |  | 536 |
Rare Blood Disorders | 94 |  | 983 |  | 240 |  | 1,317 |  | 81 |  | 842 |  | 218 |  | 1,141 |  | 41 |  | 837 |  | 339 |  | 1,217 |
of which | Alprolix® | — |  | 406 |  | 98 |  | 504 |  | — |  | 332 |  | 82 |  | 414 |  | — |  | 320 |  | 146 |  | 466 |
| Eloctate® | — |  | 450 |  | 130 |  | 580 |  | — |  | 429 |  | 134 |  | 563 |  | — |  | 445 |  | 193 |  | 638 |
Core Assets | 1,917 |  | 1,653 |  | 2,819 |  | 6,389 |  | 1,868 |  | 1,315 |  | 2,585 |  | 5,768 |  | 1,759 |  | 1,413 |  | 2,409 |  | 5,581 |
of which | Lovenox® | 658 |  | 17 |  | 635 |  | 1,310 |  | 703 |  | 29 |  | 754 |  | 1,486 |  | 656 |  | 30 |  | 665 |  | 1,351 |
| Toujeo® | 421 |  | 283 |  | 413 |  | 1,117 |  | 394 |  | 259 |  | 316 |  | 969 |  | 374 |  | 267 |  | 292 |  | 933 |
| Plavix® | 101 |  | 9 |  | 873 |  | 983 |  | 115 |  | 9 |  | 805 |  | 929 |  | 126 |  | 10 |  | 777 |  | 913 |
Non-Core Assets | 1,637 |  | 1,176 |  | 4,409 |  | 7,222 |  | 1,846 |  | 1,281 |  | 4,515 |  | 7,642 |  | 2,088 |  | 1,389 |  | 4,849 |  | 8,326 |
of which | Lantus® | 426 |  | 757 |  | 1,076 |  | 2,259 |  | 474 |  | 861 |  | 1,159 |  | 2,494 |  | 537 |  | 929 |  | 1,195 |  | 2,661 |
| Other non-core assets | 1,129 |  | 412 |  | 2,944 |  | 4,485 |  | 1,285 |  | 410 |  | 3,034 |  | 4,729 |  | 1,451 |  | 438 |  | 3,222 |  | 5,111 |
Industrial sales | 587 |  | 17 |  | 16 |  | 620 |  | 723 |  | 41 |  | 44 |  | 808 |  | 658 |  | 67 |  | 88 |  | 813 |
Vaccines | 1,341 |  | 3,291 |  | 2,597 |  | 7,229 |  | 1,225 |  | 2,762 |  | 2,336 |  | 6,323 |  | 973 |  | 2,759 |  | 2,241 |  | 5,973 |
of which | Polio/Pertussis/ Hib Vaccines | 325 |  | 456 |  | 1,504 |  | 2,285 |  | 306 |  | 470 |  | 1,383 |  | 2,159 |  | 331 |  | 412 |  | 1,363 |  | 2,106 |
| Influenza Vaccines | 681 |  | 1,737 |  | 559 |  | 2,977 |  | 729 |  | 1,366 |  | 533 |  | 2,628 |  | 441 |  | 1,575 |  | 456 |  | 2,472 |
Consumer Healthcare(a) | 1,501 |  | 1,290 |  | 2,289 |  | 5,080 |  | 1,333 |  | 1,139 |  | 1,996 |  | 4,468 |  | 1,359 |  | 1,071 |  | 1,964 |  | 4,394 |
of which | Allergy | 55 |  | 439 |  | 240 |  | 734 |  | 49 |  | 371 |  | 192 |  | 612 |  | 51 |  | 361 |  | 205 |  | 617 |
| Pain Care | 555 |  | 212 |  | 446 |  | 1,213 |  | 515 |  | 196 |  | 382 |  | 1,093 |  | 481 |  | 181 |  | 389 |  | 1,051 |
| Digestive Wellness | 432 |  | 144 |  | 742 |  | 1,318 |  | 389 |  | 124 |  | 618 |  | 1,131 |  | 371 |  | 85 |  | 532 |  | 988 |
Total net sales | 9,999 |  | 18,275 |  | 14,723 |  | 42,997 |  | 9,759 |  | 14,385 |  | 13,617 |  | 37,761 |  | 9,151 |  | 13,465 |  | 13,425 |  | 36,041 |
(a) For the Consumer Healthcare GBU, Sanofi has since 2021 adopted a more granular presentation by introducing new sub-categories that reflect consumer trends and the strengths and opportunities of the portfolio. D.35.1.2. Business operating income Sanofi reports segment results on the basis of “Business operating income”. This indicator is used internally by Sanofi’s chief operating decision maker to measure the performance of each operating segment and to allocate resources. “Business operating income” is derived from Operating income, adjusted as follows: •the amounts reported in the line items Restructuring costs and similar items, Fair value remeasurement of contingent consideration relating to business combinations (IFRS 3) and Other gains and losses, and litigation (gains and losses on major disposals of assets, asset groups ore operations, and costs related to major litigation) are eliminated; •expenses arising from the remeasurement of inventories following a business combination (IFRS 3) are eliminated; •amortization and impairment losses charged against intangible assets (other than software and other rights of an industrial or operational nature) are eliminated; •upfront payments and regulatory milestone payments recognized within the line item Other operating income and related to transactions outside the ordinary activities of Sanofi are eliminated; •the share of profits/losses from investments accounted for using the equity method is added, to the extent that this relates to joint ventures and associates with which Sanofi has a strategic alliance (for 2020, excludes Regeneron up to and including May 29, 2020; see Note D.2.); •acquisition-related effects and restructuring costs relating to investments accounted for using the equity method (joint ventures and associates with which Sanofi has a strategic alliance) are eliminated; •net income attributable to non-controlling interests is deducted; and •for 2020, the gain on the divestment of Regeneron shares on May 29, 2020 is eliminated. This elimination does not include the gain on the remeasurement of the 400,000 retained shares at market value as of that date. The table below shows Sanofi’s segment results for the years ended December 31, 2022, December 31, 2021 and December 31, 2020:
| 2022
(€ million) | Pharmaceuticals | Vaccines | Consumer Healthcare | Other(a) | Total Sanofi
Net sales | 30,688 |  | 7,229 |  | 5,080 |  | — |  | 42,997 |
Other revenues | 657 |  | 1,666 |  | 62 |  | 7 |  | 2,392 |
Cost of sales | (7,511) |  | (4,101) |  | (1,827) |  | (253) |  | (13,692) |
Research and development expenses | (5,067) |  | (936) |  | (187) |  | (516) |  | (6,706) |
Selling and general expenses | (5,923) |  | (870) |  | (1,478) |  | (2,221) |  | (10,492) |
Other operating income and expenses | (1,800) |  | 132 |  | 152 |  | 2 |  | (1,514) |
Share of profit/(loss) from investments accounted for using the equity method | 28 |  | 48 |  | 12 |  | — |  | 88 |
Net income attributable to non-controlling interests | (29) |  | — |  | (4) |  | — |  | (33) |
Business operating income | 11,043 |  | 3,168 |  | 1,810 |  | (2,981) |  | 13,040 |
(a) This caption reconciles segment financial information to total consolidated financial information.
| 2021
(€ million) | Pharmaceuticals | Vaccines | Consumer Healthcare | Other(a) | Total Sanofi
Net sales | 26,970 |  | 6,323 |  | 4,468 |  | — |  | 37,761 |
Other revenues | 264 |  | 1,095 |  | 55 |  | — |  | 1,414 |
Cost of sales | (6,965) |  | (3,430) |  | (1,606) |  | (250) |  | (12,251) |
Research and development expenses | (4,330) |  | (712) |  | (153) |  | (497) |  | (5,692) |
Selling and general expenses | (5,326) |  | (805) |  | (1,388) |  | (2,036) |  | (9,555) |
Other operating income and expenses | (1,172) |  | 128 |  | 111 |  | (13) |  | (946) |
Share of profit/(loss) from investments accounted for using the equity method | 17 |  | 11 |  | 11 |  | — |  | 39 |
Net income attributable to non-controlling interests | (49) |  | (1) |  | (5) |  | (1) |  | (56) |
Business operating income | 9,409 |  | 2,609 |  | 1,493 |  | (2,797) |  | 10,714 |
(a) This caption reconciles segment financial information to total consolidated financial information.
| 2020(a)(b)
(€ million) | Pharmaceuticals | Vaccines | Consumer Healthcare | Other(c) | Total Sanofi
Net sales | 25,674 |  | 5,973 |  | 4,394 |  | — |  | 36,041 |
Other revenues | 128 |  | 1,141 |  | 59 |  | — |  | 1,328 |
Cost of sales | (6,982) |  | (3,312) |  | (1,528) |  | (284) |  | (12,106) |
Research and development expenses | (4,171) |  | (682) |  | (153) |  | (524) |  | (5,530) |
Selling and general expenses | (4,927) |  | (789) |  | (1,419) |  | (2,256) |  | (9,391) |
Other operating income and expenses | (487) |  | 3 |  | 53 |  | (130) |  | (561) |
Share of profit/(loss) from investments accounted for using the equity method | 5 |  | 2 |  | 9 |  | — |  | 16 |
Net income attributable to non-controlling interests | (33) |  | — |  | (5) |  | — |  | (38) |
Business operating income | 9,207 |  | 2,336 |  | 1,410 |  | (3,194) |  | 9,759 |
(a) 2020 figures have been adjusted to take account of the reallocation of certain expenses (in particular IT costs related to Sanofi’s new digital organization) from the Pharmaceuticals, Vaccines and Consumer Healthcare operating segments to the “Other” segment. (b) Includes the impact of the April 2021 IFRIC agenda decision on the allocation of benefits to service periods, as described in Note A.2.1. to the consolidated financial statements for the year ended December 31, 2021. (c) This caption reconciles segment financial information to total consolidated financial information. The table below, presented in compliance with IFRS 8, shows a reconciliation between aggregated “Business operating income” for the segments and Income before tax and investments accounted for using the equity method:
(€ million) | 2022 | 2021 | 2020 | (h) |
Business operating income | 13,040 |  | 10,714 |  | 9,759 |  |  |
Share of profit/(loss) from investments accounted for using the equity method(a) | (88) |  | (39) |  | (16) |  |  |
Net income attributable to non-controlling interests(b) | 33 |  | 56 |  | 38 |  |  |
Amortization and impairment of intangible assets (c) | (1,599) |  | (1,772) |  | (2,011) |  |  |
Fair value remeasurement of contingent consideration | 27 |  | (4) |  | 124 |  |  |
Expenses arising from the impact of acquisitions on inventories(d) | (3) |  | (4) |  | (53) |  |  |
Restructuring costs and similar items | (1,336) |  | (820) |  | (1,089) |  |  |
Other gains and losses, and litigation(e) | (370) |  | (5) |  | 136 |  |  |
Gain on divestment of Regeneron shares on May 29, 2020(f) | — |  | — |  | 7,225 |  |  |
Income from out-licensing(g) | 952 |  | — |  | — |  |  |
Operating income | 10,656 |  | 8,126 |  | 14,113 |  |  |
Financial expenses | (440) |  | (368) |  | (388) |  |  |
Financial income | 206 |  | 40 |  | 53 |  |  |
Income before tax and investments accounted for using the equity method | 10,422 |  | 7,798 |  | 13,778 |  |  |
(a) Excludes restructuring costs relating to investments accounted for using the equity method and expenses arising from the impact of acquisitions on investments accounted for using the equity method. For the first two quarters of 2020, this line has been restated to exclude any effect of equity method accounting for the investment in Regeneron following the divestment of Sanofi's entire equity interest (with the exception of the 400,000 shares retained by Sanofi) on May 29, 2020. (b) Excludes (i) restructuring costs and (ii) other adjustments attributable to non-controlling interests. (c) For 2022, this line includes a reversal of €2,154 million on Eloctate franchise products following FDA approval of ALTUVIIIO TM dated February 22, 2023, partially offset by an impairment of €1,586 million relating to the development project for SAR444245 (non-alpha interleukin-2). (d) This line records the impact of the workdown of acquired inventories remeasured at fair value at the acquisition date. (e) For 2020, this line mainly comprises the gain on the sale of operations related to the Seprafilm® activity to Baxter. (f) This line includes the gain on the sale of (i) 13 million shares of Regeneron common stock in the registered public offering and (ii) the 9.8 million shares repurchased by Regeneron, but does not include the gain arising from the remeasurement of the 400,000 retained shares at market value as of May 29, 2020. (g) For 2022, this line includes an upfront payment of $900 million and a regulatory milestone payment of $100 million related to the out-licensing of Libtayo® following the restructuring of the Immuno-Oncology Collaboration and License Agreement with Regeneron (see Note C.1.). (h) Includes the impacts of the IFRIC final agenda decisions of March 2021 on the costs of configuring or customising application software used in a Software as a Service (SaaS) arrangement and of April 2021 on the attribution of benefits to periods of service, as described in Note A.2.1. to the consolidated financial statements for the year ended December 31, 2021. D.35.2. Other segment information The tables below show the split by operating segment of (i) the carrying amount of investments accounted for using the equity method, (ii) acquisitions of property, plant and equipment, and (iii) acquisitions of intangible assets. The principal investments accounted for using the equity method in the Pharmaceuticals segment are entities majority owned by EUROAPI, MSP Vaccine Company, and Infraserv GmbH & Co. Höchst KG (see Note D.6.). Acquisitions of intangible assets and property, plant and equipment correspond to acquisitions paid for during the period.
| 2022
(€ million) | Pharmaceuticals | Vaccines | Consumer Healthcare | Total
Investments accounted for using the equity method | 536 |  | 104 |  | 37 |  | 677 |
Acquisitions of property, plant and equipment | 1,025 |  | 504 |  | 77 |  | 1,606 |
Acquisitions of other intangible assets | 463 |  | 111 |  | 21 |  | 595 |
| 2021
(€ million) | Pharmaceuticals | Vaccines | Consumer Healthcare | Total
Investments accounted for using the equity method | 159 |  | 91 |  | — |  | 250 |
Acquisitions of property, plant and equipment | 1,024 |  | 382 |  | 73 |  | 1,479 |
Acquisitions of other intangible assets(a) | 450 |  | 108 |  | 6 |  | 564 |
(€ million) | 2020
Pharmaceuticals | Vaccines | Consumer Healthcare | Total
Investments accounted for using the equity method | 154 |  | 47 |  | — |  | 201 |
Acquisitions of property, plant and equipment | 755 |  | 404 |  | 95 |  | 1,254 |
Acquisitions of other intangible assets(a) | 501 |  | 322 |  | 6 |  | 829 |
(a) Includes the impact of the IFRIC agenda decision of March 2021 on the costs of configuring or customising application software used in a Software as a Service (SaaS) arrangement, as described in Note A.2.1. to the consolidated financial statements for the year ended December 31, 2021. D.35.3. Information by geographical region The geographical information on net sales provided below is based on the geographical location of the customer. In accordance with IFRS 8, the non-current assets reported below exclude right-of-use assets relating to leases as determined under IFRS 16, investments accounted for using the equity method, other non-current assets, non-current income tax assets, and deferred tax assets.
| 2022
(€ million) | Total | Europe | of which France | North America | of which United States | Other countries
Net sales | 42,997 |  | 9,999 |  | 2,296 |  | 18,984 |  | 18,275 |  | 14,014 |
Non-current assets: |  |  |  |  |  |
•property, plant and equipment owned | 9,869 |  | 5,365 |  | 2,875 |  | 3,284 |  | 2,457 |  | 1,220 |
•goodwill | 49,892 |  | — |  | — |  | — |  | — |  | — |
▪other intangible assets | 21,640 |  | 6,257 |  | — |  | 14,178 |  | — |  | 1,205 |
| 2021
Total | Europe | of which France | North America | of which United States | Other countries
Net sales | 37,761 |  | 9,759 |  | 2,256 |  | 15,075 |  | 14,385 |  | 12,927 |
Non-current assets: |  |  |  |  |  |
•property, plant and equipment owned | 10,028 |  | 5,959 |  | 3,253 |  | 2,998 |  | 2,234 |  | 1,071 |
•goodwill | 48,056 |  | — |  | — |  | — |  | — |  | — |
•other intangible assets(a) | 21,407 |  | 7,059 |  | — |  | 13,187 |  | — |  | 1,161 |
(€ million) | 2020
Total | Europe | of which France | North America | of which United States | Other countries
Net sales | 36,041 |  | 9,151 |  | 2,223 |  | 14,060 |  | 13,465 |  | 12,830 |
Non-current assets: |  |  |  |  |  |
•property, plant and equipment owned | 9,365 |  | 5,895 |  | 3,189 |  | 2,542 |  | 1,899 |  | 928 |
•goodwill | 44,364 |  | — |  | — |  | — |  | — |  | — |
•other intangible assets(a) | 18,341 |  | 6,208 |  | — |  | 10,665 |  | — |  | 1,468 |
(a) Includes the impact of the IFRIC agenda decision of March 2021 on the costs of configuring or customising application software used in a Software as a Service (SaaS) arrangement, as described in Note A.2.1. to the consolidated financial statements for the year ended December 31, 2021. As stated in Note D.5., goodwill is not allocated by geographical region.

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