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Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2023
Disclosure of operating segments [abstract] |
Summary of Net Sales by Segment and Geographical Area | The table below sets forth net sales for the six months ended June 30, 2023 and June 30, 2022:
(€ million) | Europe | United States | Other countries | June 30, 2023 | Europe | United States | Other countries | June 30, 2022 (a)
Biopharma | 4,194 |  | 7,366 |  | 5,907 |  | 17,467 |  | 3,986 |  | 6,917 |  | 6,244 |  | 17,147 |
Specialty Care | 1,621 |  | 5,622 |  | 1,448 |  | 8,691 |  | 1,535 |  | 4,829 |  | 1,278 |  | 7,642 |
of which | Dupixent® | 587 |  | 3,682 |  | 609 |  | 4,878 |  | 450 |  | 2,653 |  | 474 |  | 3,577 |
| Aubagio® | 249 |  | 348 |  | 38 |  | 635 |  | 269 |  | 689 |  | 59 |  | 1,017 |
| Cerezyme® | 120 |  | 94 |  | 163 |  | 377 |  | 126 |  | 94 |  | 147 |  | 367 |
| Myozyme/Lumizyme® | 181 |  | 135 |  | 120 |  | 436 |  | 206 |  | 163 |  | 118 |  | 487 |
| Fabrazyme® | 122 |  | 251 |  | 123 |  | 496 |  | 116 |  | 221 |  | 121 |  | 458 |
| Jevtana® | 8 |  | 128 |  | 40 |  | 176 |  | 19 |  | 142 |  | 42 |  | 203 |
| Alprolix® | — |  | 215 |  | 45 |  | 260 |  | — |  | 198 |  | 39 |  | 237 |
| Eloctate® | — |  | 183 |  | 65 |  | 248 |  | — |  | 232 |  | 59 |  | 291 |
General Medicines | 2,003 |  | 1,087 |  | 3,296 |  | 6,386 |  | 2,130 |  | 1,410 |  | 3,767 |  | 7,307 |
Core Assets | 1,011 |  | 762 |  | 1,409 |  | 3,182 |  | 978 |  | 773 |  | 1,454 |  | 3,205 |
of which | Lovenox® | 329 |  | 5 |  | 273 |  | 607 |  | 353 |  | 7 |  | 354 |  | 714 |
| Toujeo® | 221 |  | 118 |  | 241 |  | 580 |  | 211 |  | 128 |  | 202 |  | 541 |
| Plavix® | 48 |  | 4 |  | 424 |  | 476 |  | 52 |  | 5 |  | 451 |  | 508 |
Non-Core Assets | 728 |  | 322 |  | 1,874 |  | 2,924 |  | 858 |  | 624 |  | 2,304 |  | 3,786 |
of which | Lantus® | 191 |  | 180 |  | 429 |  | 800 |  | 223 |  | 425 |  | 623 |  | 1,271 |
| Other non-core assets | 497 |  | 139 |  | 1,274 |  | 1,910 |  | 593 |  | 196 |  | 1,481 |  | 2,270 |
Industrial sales | 264 |  | 3 |  | 13 |  | 280 |  | 294 |  | 13 |  | 9 |  | 316 |
Vaccines | 570 |  | 657 |  | 1,163 |  | 2,390 |  | 321 |  | 678 |  | 1,199 |  | 2,198 |
of which | Polio/Pertussis/ Hib Vaccines | 148 |  | 200 |  | 806 |  | 1,154 |  | 161 |  | 224 |  | 817 |  | 1,202 |
| Influenza Vaccines | 37 |  | 19 |  | 106 |  | 162 |  | 37 |  | 12 |  | 132 |  | 181 |
Consumer Healthcare | 840 |  | 622 |  | 1,258 |  | 2,720 |  | 781 |  | 645 |  | 1,217 |  | 2,643 |
of which | Allergy | 49 |  | 246 |  | 151 |  | 446 |  | 37 |  | 249 |  | 148 |  | 434 |
| Pain Care | 254 |  | 89 |  | 216 |  | 559 |  | 261 |  | 103 |  | 218 |  | 582 |
| Digestive Wellness | 285 |  | 69 |  | 460 |  | 814 |  | 252 |  | 62 |  | 412 |  | 726 |
Total net sales | 5,034 |  | 7,988 |  | 7,165 |  | 20,187 |  | 4,767 |  | 7,562 |  | 7,461 |  | 19,790 |
(a) 2022 figures have been adjusted to take account of the two new operating segments, Biopharma and Consumer Healthcare, effective from January 1, 2023.
Schedule of Segment Results | Segment results are shown in the table below:
| June 30, 2023 (6 months)
(€ million) | Biopharma | Consumer Healthcare | Other (a) | Total
Net sales | 17,467 |  | 2,720 |  | — |  | 20,187 |
Other revenues | 1,331 |  | 27 |  | — |  | 1,358 |
Cost of sales | (5,388) |  | (949) |  | (5) |  | (6,342) |
Research and development expenses | (3,082) |  | (111) |  | — |  | (3,193) |
Selling and general expenses | (4,248) |  | (936) |  | 2 |  | (5,182) |
Other operating income and expenses | (897) |  | 100 |  | (8) |  | (805) |
Share of profit/(loss) from investments accounted for using the equity method | 48 |  | 7 |  | — |  | 55 |
Net income attributable to non-controlling interests | (11) |  | (8) |  | — |  | (19) |
Business operating income | 5,220 |  | 850 |  | (11) |  | 6,059 |
(a) The “Other” column reconciles segmental results to the total per the consolidated financial statements. .
| June 30, 2022 (6 months) (a)
(€ million) | Biopharma | Consumer Healthcare | Other (b) | Total
Net sales | 17,147 |  | 2,643 |  | — |  | 19,790 |
Other revenues | 975 |  | 30 |  | — |  | 1,005 |
Cost of sales | (5,211) |  | (925) |  | 9 |  | (6,127) |
Research and development expenses | (3,062) |  | (90) |  | 5 |  | (3,147) |
Selling and general expenses | (4,081) |  | (881) |  | 9 |  | (4,953) |
Other operating income and expenses | (884) |  | 114 |  | (18) |  | (788) |
Share of profit/(loss) from investments accounted for using the equity method | 47 |  | 8 |  | — |  | 55 |
Net income attributable to non-controlling interests | (8) |  | (9) |  | — |  | (17) |
Business operating income | 4,923 |  | 890 |  | 5 |  | 5,818 |
(a) 2022 figures have been adjusted to take account of the two new operating segments, Biopharma and Consumer Healthcare, effective from January 1, 2023. (b) The “Other” column reconciles segmental results to the total per the consolidated financial statements.
| December 31, 2022 (12 months) (a)
(€ million) | Biopharma | Consumer Healthcare | Other (b) | Total
Net sales | 37,812 |  | 5,185 |  | — |  | 42,997 |
Other revenues | 2,330 |  | 62 |  | — |  | 2,392 |
Cost of sales | (11,793) |  | (1,903) |  | 4 |  | (13,692) |
Research and development expenses | (6,503) |  | (205) |  | 2 |  | (6,706) |
Selling and general expenses | (8,736) |  | (1,761) |  | 5 |  | (10,492) |
Other operating income and expenses | (1,679) |  | 148 |  | 17 |  | (1,514) |
Share of profit/(loss) from investments accounted for using the equity method | 76 |  | 12 |  | — |  | 88 |
Net income attributable to non-controlling interests | (17) |  | (16) |  | — |  | (33) |
Business operating income | 11,490 |  | 1,522 |  | 28 |  | 13,040 |
(a) 2022 figures have been adjusted to take account of the two new operating segments, Biopharma and Consumer Healthcare, effective from January 1, 2023. (b) The “Other” column reconciles segmental results to the total per the consolidated financial statements.
Schedule of Reconciliation Between Business Operating Income for the Segments and Income Before Tax and Investments Accounted for Using the Equity Method | The table below, presented in compliance with IFRS 8, shows a reconciliation between “Business operating income” and Income before tax and investments accounted for using the equity method:
(€ million) | June 30, 2023 (6 months) | June 30, 2022 (6 months) | December 31, 2022 (12 months)
Business operating income | 6,059 |  | 5,818 |  | 13,040 |
Share of profit/(loss) from investments accounted for using the equity method | (55) |  | (55) |  | (88) |
Net income attributable to non-controlling interests | 19 |  | 17 |  | 33 |
Amortization and impairment of intangible assets (a) | (1,050) |  | (997) |  | (1,599) |
Fair value remeasurement of contingent consideration | (26) |  | (17) |  | 27 |
Expense arising from the impact of acquisitions on inventories (b) | (5) |  | (3) |  | (3) |
Restructuring costs and similar items | (547) |  | (792) |  | (1,336) |
Other gains and losses, and litigation | (73) |  | (142) |  | (370) |
Income from out-licensing (c) | — |  | — |  | 952 |
Operating income | 4,322 |  | 3,829 |  | 10,656 |
Financial expenses | (370) |  | (189) |  | (440) |
Financial income | 286 |  | 34 |  | 206 |
Income before tax and investments accounted for using the equity method | 4,238 |  | 3,674 |  | 10,422 |
(a)For the year ended December 31, 2022, this line includes a reversal of €2,154 million on Eloctate® franchise products following the FDA approval of ALTUVIIIO TM on February 22, 2023, partly offset by an impairment of €1,586 million relating to SAR444245 (non-alpha interleukin-2). (b)This line records the impact of the workdown of acquired inventories remeasured at fair value at the acquisition date. (c)For the year ended December 31, 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. to the consolidated financial statements for the year ended December 31, 2022).
Schedule of Acquisition of Intangible Assets, Property, Plant and Equipment and Investments Accounted for Using the Equity Method by Segment | Acquisitions of intangible assets and property, plant and equipment correspond to acquisitions paid for during the period.
| June 30, 2023 (6 months)
(€ million) | Biopharma | Consumer Healthcare | Total
Investments accounted for using the equity method | 231 |  | 10 |  | 241 |
Acquisitions of property, plant and equipment | 751 |  | 31 |  | 782 |
Acquisitions of other intangible assets | 132 |  | 16 |  | 148 |
| June 30, 2022 (6 months) (a)
(€ million) | Biopharma | Consumer Healthcare | Total
Investments accounted for using the equity method | 253 |  | 42 |  | 295 |
Acquisitions of property, plant and equipment | 664 |  | 29 |  | 693 |
Acquisitions of other intangible assets | 274 |  | 7 |  | 281 |
(a) 2022 figures have been adjusted to take account of the two new operating segments, Biopharma and Consumer Healthcare, effective from January 1, 2023.
| December 31, 2022 (12 months) (a)
(€ million) | Biopharma | Consumer Healthcare | Total
Investments accounted for using the equity method | 248 |  | 37 |  | 285 |
Acquisitions of property, plant and equipment | 1,529 |  | 77 |  | 1,606 |
Acquisitions of other intangible assets | 574 |  | 21 |  | 595 |
Summary of Geographical Information on Net Sales and Non-Current Assets | In accordance with IFRS 8, the non-current assets reported below exclude financial instruments, deferred tax assets, pre-funded pension obligations, and right-of-use assets as determined under IFRS 16.
| June 30, 2023 (6 months)
(€ million) | Total | Europe | of which France | North America | of which United States | Other countries
Net sales | 20,187 |  | 5,034 |  | 1,174 |  | 8,264 |  | 7,988 |  | 6,889 |
Non-current assets: |  |  |  |  |  |
•property, plant and equipment | 9,804 |  | 5,462 |  | 2,921 |  | 3,268 |  | 2,364 |  | 1,074 |
•goodwill | 49,243 |  | — |  | — |  | — |  | — |  | — |
•other intangible assets | 24,590 |  | 5,961 |  | — |  | 17,598 |  | — |  | 1,031 |
| June 30, 2022 (6 months)
(€ million) | Total | Europe | of which France | North America | of which United States | Other countries
Net sales | 19,790 |  | 4,767 |  | 1,105 |  | 7,875 |  | 7,562 |  | 7,148 |
Non-current assets: |  |  |  |  |  |
•property, plant and equipment | 9,767 |  | 5,391 |  | 2,935 |  | 3,246 |  | 2,414 |  | 1,130 |
•goodwill | 50,555 |  | — |  | — |  | — |  | — |  | — |
•other intangible assets | 21,978 |  | 6,467 |  | — |  | 14,505 |  | — |  | 1,006 |
| December 31, 2022 (12 months)
(€ 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 | 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 |

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