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Liabilities Related to Business Combinations and to Non-Controlling Interests - Summary of Movements in Liabilities Related to Business Combinations and to Non-Controlling Interests (Details) - EUR (€)
€ in Millions
6 Months Ended
Jun. 30, 2025
Dec. 31, 2024
Disclosure of contingent liabilities in business combination [abstract]    
Liabilities Related to Business Combinations and to Non-Controlling Interests
B.11. Liabilities related to business combinations and to non-controlling interests
For a description of the nature of the liabilities reported in the line item Liabilities related to business combinations and to non-controlling interests, refer to Note B.8.4. to the consolidated financial statements for the year ended December 31, 2024.
The liabilities related to business combinations and to non-controlling interests shown in the table below are level 3 instruments under the IFRS 13 and IFRS 7 fair value hierarchy (see Note A.5.).
Movements in liabilities related to business combinations and to non-controlling interests in the first half of 2025 are shown below:
(€ million)MSD contingent consideration (European Vaccines business)Shire contingent consideration arising from acquisition of Translate BioOther
Total (a)
Balance at January 1, 2025
72 568 1 641 
Payments made(72)— — (72)
Fair value remeasurements through profit or loss: (gain)/loss (including unwinding of discount) (b)
71 — 72 
Currency translation differences(1)(76)— (77)
Balance at June 30, 2025
 563 1 564 
Of which:
Current portion
— 
Non-current portion
564 
(a)As of January 1, 2025, this comprised a non-current portion of €569 million and a current portion of €72 million.
(b    Amounts mainly reported within the income statement line item “Fair value remeasurement of contingent consideration”.
As of June 30, 2025, Liabilities related to business combinations and to non-controlling interests mainly comprised the contingent consideration liability towards Shire Human Genetic Therapies Inc. (Shire) arising from Sanofi's acquisition of Translate Bio in September 2021. The fair value of the Shire liability is determined by applying the contractual terms to development and sales projections that are weighted to reflect the probability of success, and discounted. The liability was measured at €563 million as of June 30, 2025, compared with €568 million as of December 31, 2024. If the discount rate were to fall by one percentage point, the fair value of the Shire liability would increase by approximately 10%.
The MSD contingent consideration liability arising from the 2016 acquisition of the Sanofi Pasteur activities carried on within the former Sanofi Pasteur MSD joint venture was extinguished during 2024 in accordance with the contractual terms. Sanofi has no further liability in respect of this contingent consideration following settlement of the milestone linked to 2024 sales.
 
Changes In Liabilities Related To Business Combinations And Non-Controlling Interests [Roll Forward]    
Beginning balance [1] € 641  
Payments made [1] (72)  
Fair value remeasurements through profit or loss: (gain)/loss (including unwinding of discount) [1],[2] 72  
Currency translation differences [1] (77)  
Ending balance [1] 564  
Current portion 0 [1] € 72
Non-current portion 564 [1] € 569
MSD contingent consideration (European Vaccines business)    
Changes In Liabilities Related To Business Combinations And Non-Controlling Interests [Roll Forward]    
Beginning balance 72  
Payments made (72)  
Fair value remeasurements through profit or loss: (gain)/loss (including unwinding of discount) [2] 1  
Currency translation differences (1)  
Ending balance 0  
Shire contingent consideration arising from acquisition of Translate Bio    
Changes In Liabilities Related To Business Combinations And Non-Controlling Interests [Roll Forward]    
Beginning balance 568  
Payments made 0  
Fair value remeasurements through profit or loss: (gain)/loss (including unwinding of discount) [2] 71  
Currency translation differences (76)  
Ending balance 563  
Other    
Changes In Liabilities Related To Business Combinations And Non-Controlling Interests [Roll Forward]    
Beginning balance 1  
Payments made 0  
Fair value remeasurements through profit or loss: (gain)/loss (including unwinding of discount) [2] 0  
Currency translation differences 0  
Ending balance € 1  
[1] As of January 1, 2025, this comprised a non-current portion of €569 million and a current portion of €72 million.
[2] (b    Amounts mainly reported within the income statement line item “Fair value remeasurement of contingent consideration”