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Goodwill and other intangible assets | 12 Months Ended
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Dec. 31, 2024
Intangible assets and goodwill [abstract] |
Goodwill and other intangible assets | Goodwill and other intangible assets Movements in goodwill comprise:
(€ million) | Goodwill
Balance at January 1, 2022 | 48,056
Acquisitions during the period | 609
Other movements during the period(a) | (258)
Currency translation differences | 1,485
Balance at December 31, 2022 | 49,892
Acquisitions during the period (c) | 475
Other movements during the period(a) | (90)
Currency translation differences | (873)
Balance at December 31, 2023 | 49,404
Acquisitions during the period | —
Other movements during the period(a) | (351)
Currency translation differences | 1,586
Opella reclassification (b) | (7,255)
Balance at December 31, 2024 | 43,384
(a)This line mainly comprises the amount of goodwill allocated to divested operations in accordance with paragraph 86 of IAS 36, including in 2024 the allocated goodwill relating to the divestment of the Enjaymo activity to Recordati (see Note D.1.). For 2022, this line includes the loss of control of EUROAPI (see Note D.1.). (b)The Opella goodwill is presented within Assets held for sale (see Note D.1.). (c)The final purchase price allocation for QRIB Intermediate Holdings, LLC resulted in the recognition of intangible assets (other than goodwill) of €774 million as of the acquisition date (September 29, 2023) and of goodwill measured at €484 million as of the acquisition date (see Note D.1.). In accordance with IAS 36, goodwill is allocated to groups of Cash Generating Units (CGUs) at a level corresponding to the Biopharma operating segment (see Note D.35.). For the purpose of annual impairment testing of goodwill, the recoverable amount was determined on the basis of value in use, as derived from discounted estimates of the future cash flows in accordance with the policies described in Note B.6.1. Acquisition of Amunix Pharmaceuticals, Inc. (2022) The final purchase price allocation for Amunix Pharmaceuticals, Inc. resulted in the recognition of intangible assets (other than goodwill) o f €493 million as of the acquisition date (February 8, 2022), and of goodwill measured at €609 million as of the acquisition date (see Note D.1.). Movements in other intangible assets comprise:
(€ million) | Acquired R&D | Products, trademarks and other rights | Software | Total other intangible assets
Gross value at January 1, 2022(a) | 11,207 | 65,906 | 1,752 | 78,865
Changes in scope of consolidation(c) | — | 499 | (35) | 464
Acquisitions and other increases | 277 | 195 | 99 | 571
Disposals and other decreases | (72) | (423) | (48) | (543)
Currency translation differences | 518 | 1,994 | 21 | 2,533
Transfers(b) | (1,576) | 1,408 | (6) | (174)
Gross value at December 31, 2022 | 10,354 | 69,579 | 1,783 | 81,716
Changes in scope of consolidation(c) | 113 | 3,287 | 1 | 3,401
Acquisitions and other increases(f) | 1,062 | 1,970 | 80 | 3,112
Disposals and other decreases | (262) | (380) | (41) | (683)
Currency translation differences | (242) | (1,584) | (11) | (1,837)
Transfers(b) | (1,253) | 861 | (4) | (396)
Gross value at December 31, 2023 | 9,772 | 73,733 | 1,808 | 85,313
Changes in scope of consolidation(c) | 1,745 | — | — | 1,745
Acquisitions and other increases(f) | 1,006 | 444 | 104 | 1,554
Disposals and other decreases | (58) | (1,447) | (9) | (1,514)
Currency translation differences | 606 | 2,708 | 17 | 3,331
Transfers(b) | (52) | 66 | (11) | 3
Opella reclassification (a) | (153) | (9,156) | (57) | (9,366)
Gross value at December 31, 2024 | 12,866 | 66,348 | 1,852 | 81,066
Accumulated amortization & impairment at January 1, 2022(a) | (3,477) | (52,744) | (1,237) | (57,458)
Changes in scope of consolidation | — | — | 11 | 11
Amortization expense(e) | — | (2,099) | (97) | (2,196)
Impairment losses, net of reversals(d) | (1,107) | 1,561 | — | 454
Disposals and other decreases | 75 | 411 | 39 | 525
Currency translation differences | (7) | (1,567) | (17) | (1,591)
Transfers(b) | 388 | (214) | 5 | 179
Accumulated amortization & impairment at December 31, 2022 | (4,128) | (54,652) | (1,296) | (60,076)
Changes in scope of consolidation(c) | — | 33 | — | 33
Amortization expense | — | (2,225) | (120) | (2,345)
Impairment losses, net of reversals(d) | (90) | (842) | — | (932)
Disposals and other decreases | 262 | 326 | 41 | 629
Currency translation differences | 94 | 1,184 | 9 | 1,287
Transfers(b) | 128 | 268 | 14 | 410
Accumulated amortization & impairment at December 31, 2023 | (3,734) | (55,908) | (1,352) | (60,994)
Amortization expense | — | (2,094) | (106) | (2,200)
Impairment losses, net of reversals(d) | (638) | 373 | 1 | (264)
Disposals and other decreases | 58 | 655 | 9 | 722
Currency translation differences | (191) | (1,928) | (15) | (2,134)
Transfers(b) | (2) | (3) | — | (5)
Opella reclassification (a) | 10 | 6,398 | 30 | 6,438
Accumulated amortization & impairment at December 31, 2024 | (4,497) | (52,507) | (1,433) | (58,437)
Carrying amount at December 31, 2022 | 6,226 | 14,927 | 487 | 21,640
Carrying amount at December 31, 2023 | 6,038 | 17,825 | 456 | 24,319
Carrying amount at December 31, 2024 | 8,369 | 13,841 | 419 | 22,629
(a)Comprises the other intangible assets of Opella, now reclassified to Assets held for sale at December 31, 2024 in accordance with IFRS 5 (see note D.1.). (b)The “Transfers” line mainly comprises (i) acquired R&D that came into commercial use during the period and (ii) reclassifications of assets (other than Opella assets) as Assets held for sale. (c)The “Changes in scope of consolidation” line mainly comprises the fair value of intangible assets recognized in connection with acquisitions made during the period (see Note D.1.). (d)See Note D.5. (e)The amendment to the terms of the IO License and Collaboration Agreement resulted in the recognition of an amortization charge of €226 million in 2022 (see Note C.1.). (f)This line mainly comprises: In 2023: –the rights acquired as a result of the simplification agreed between Sanofi and AstraZeneca in April 2023 in respect of the agreements on Beyfortus (nirsevimab) (see Note C.2.); –an upfront payment of $500 million relating to the rights acquired under the agreement with Teva Pharmaceuticals on the co-development and co- commercialization of TEV’574;and –an upfront payment of $175 million for the rights acquired under the agreement with Janssen Pharmaceuticals, Inc. relating to a vaccine against extra-intestinal pathogenic strains of E-Coli. In 2024: –an upfront payment of $500 million for the rights acquired under the agreement with Novavax relating to the co-exclusive license agreement for the co-commercialization of a COVID-19 vaccine and the development of a combined flu-COVID-19 vaccine; and –an upfront payment of $300 million for the rights acquired under an agreement with Corxel Pharmaceuticals for the development and commercialization rights to aficamten in China. “Products, trademarks and other rights” mainly comprise: •“marketed products”, with a carrying amount of €12.7 billion as of December 31, 2024 (versus €16.6 billion as of December 31, 2023 and €12.7 billion as of December 31, 2022) and a weighted average amortization period of approximately 10 years; and •“technology platforms”, with a carrying amount of €1.1 billion as of December 31, 2024 (versus €1.2 billion as of December 31, 2023 and €2.2 billion as of December 31, 2022) and a weighted average amortization period of approximately 18 years. The table below provides information about the principal “marketed products”, which were recognized in connection with major acquisitions made by Sanofi and represented 95% of the carrying amount of that item as of December 31, 2024:
(€ million) | Gross value | Accumulated amortization & impairment | December 31, 2024 | Amortization period (years)(a) | Residual amortization period (years)(b) | Carrying amount at December 31, 2023 | Carrying amount at December 31, 2022
Genzyme(c) | 10,600 | (10,541) | 59 | 10 | 2 | 208 | 621
Boehringer Ingelheim (c) | 3,520 | (1,756) | 1,764 | 17 | 10 | 1,806 | 2,037
Aventis(c) | 34,175 | (34,136) | 39 | 9 | 10 | 43 | 58
Chattem(c) | 1,406 | (924) | 482 | 23 | 10 | 501 | 574
Protein Sciences(c) | 886 | (505) | 381 | 13 | 6 | 420 | 498
Ablynx(c) | 1,966 | (883) | 1,083 | 14 | 8 | 1,220 | 1,357
Bioverativ(c) | 8,375 | (4,026) | 4,349 | 13 | 8 | 5,152 | 4,836
Rezurock | 2,033 | (520) | 1,513 | 12 | 9 | 1,580 | 1,702
Tzield | 2,714 | (375) | 2,339 | 12 | 11 | 2,405 | —
Beyfortus | 2,288 | (201) | 2,087 | 17 | 16 | 1,870 | 180
Qunol | 790 | (91) | 699 | 10 | 8 | 722 | —
Total: principal marketed products incl. Opella products presented in "Assets held for sale" | 68,753 | (53,958) | 14,795 |  |  | 15,927 | 11,863
Total: principal marketed products excl. Opella products presented in "Assets held for sale" | 60,214 | (48,212) | 12,002 |  |  | 13,055 | 9,429
(a)Weighted averages. The amortization periods for these products vary between 1 and 25 years. (b)Weighted averages. (c)Commercialized products derived from the acquisition of these companies. In the case of Bioverativ, the product Enjaymo was sold to Recordati in 2024 (see Note D.1.). During 2023, some of the acquired research and development came into commercial use, and started being amortized from the date of marketing approval; the main item involved was ALTUVIIIO (efanesoctocog alfa) which extends protection from bleeds and treats acute hemorrhages in people with hemophilia A. The main asset brought into service during 2022 was Enjaymo (sutimlimab-jome), a treatment for cold agglutinin disease. Amortization of other intangible assets is recognized in the income statement within the line item Amortization of intangible assets, except for amortization of software and other rights of an industrial or operational nature which is recognized in the relevant classification of expense by function. An analysis of amortization of software is shown in the table below:
(€ million) | 2024 | 2023(a) | 2022(a)
Cost of sales | 16 | 14 | 9
Research and development expenses | 1 | 3 | 1
Selling and general expenses | 87 | 100 | 82
Other operating expenses | 1 | 2 | 4
Net income from discontinued operations | 1 | 1 | 1
Total | 106 | 120 | 97
(a)Figures for comparative periods (2023 and 2022) have been re-presented on a consistent basis to reflect the classification of Opella as a discontinued operation.

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