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Investments accounted for using the equity method
 12 Months Ended
Dec. 31, 2023
Interests In Other Entities [Abstract]  
Investments accounted for using the equity method Investments accounted for using the equity method
Investments accounted for using the equity method comprise associates and joint ventures (see Note B.1.), and are set forth below.
(€ million)% interest202320222021
EUROAPI(a)
29.8 162 392 — 
Infraserv GmbH & Co. Höchst KG(b)
31.2 90 97 80 
MSP Vaccine Company(c)
50.0 96 104 88 
Other investments— 76 84 82 
Total424 677 250 
(a)     Following the distribution in kind and the acquisition of an equity interest by EPIC Bpifrance, Sanofi holds an equity interest in EUROAPI accounted for using the equity method in accordance with IAS 28 (see Note D.2.). As of December 31, 2023, an impairment loss of €231 million was recognized on the equity-accounted investment in EUROAPI in view of the fall in the share price since March 2023. The amount of the loss was determined on the basis of the share price as of December 31, 2023 (€5.73).
(b)    Joint venture.
(c)    Joint venture. MSP Vaccine Company owns 100% of MCM Vaccine BV.
The table below shows Sanofi’s overall share of (i) profit or loss and (ii) other comprehensive income from investments accounted for using the equity method, showing the split between associates and joint ventures in accordance with IFRS 12 (the amounts for each individual associate or joint venture are not material):
202320222021
(€ million)Joint venturesAssociatesJoint venturesAssociatesJoint venturesAssociates
Share of profit/(loss) from investments accounted for using the equity method(a)
101 (216)74 (6)26 13 
Share of other comprehensive income from investments accounted for using the equity method(7)8 (2)(3)(6)— 
Total94 (208)72 (9)20 13 
(a)    An impairment loss of €231 million was recognized on the equity-accounted interest in EUROAPI as of December 31, 2023, to reflect the fall in the share price since March 2023. The amount of the loss was determined on the basis of the quoted market price as of December 31, 2023 (€5.73).

The financial statements include arm’s length transactions between Sanofi and some equity-accounted investments that are classified as related parties. The principal transactions and balances with related parties are summarized below:
(€ million)20232022
(a)
2021
Sales157 131 70 
Royalties and other income
63 81 66 
Accounts receivable and other receivables(b)
249 330 269 
Purchases and other expenses (including research expenses)
642 477 178 
Accounts payable and other payables
71 132 28 
(a)    In 2022, these items include Sanofi's transactions with EUROAPI from May 10, 2022 (see Note D.2.).
(b) Includes loans to joint ventures and associates.

There were no funding commitments to associates and joint ventures as of December 31, 2023, December 31, 2022 or December 31, 2021.
For off balance sheet commitments of an operational nature involving joint ventures, see Note D.21.1.