XML 26 R14.htm IDEA: XBRL DOCUMENT
v3.26.1

Investments accounted for using the equity method | 6 Months Ended
--- | ---
Jun. 30, 2026
Interests In Other Entities [Abstract] |
Investments accounted for using the equity method | B.5. Investments accounted for using the equity method Investments accounted for using the equity method consist of associates and joint ventures (see Note B.1. to the consolidated financial statements for the year ended December 31, 2025), and comprise:
(€ million) | % interest | June 30, 2026 | December 31, 2025
OPAL JV Co (a) | 48.2 |  | 2,965 | 2,934
EUROAPI (b) | 29.6 |  | 38 |  | 64 |
Infraserv GmbH & Co. Höchst KG (c) | 31.2 |  | 93 |  | 112 |
MSP Vaccine Company (d) | 50.0 |  | 52 |  | 59 |
Other investments | — |  | 59 |  | 90 |
Total |  | 3,207 | 3,259
(a)Following the loss of control of Opella in 2025, Sanofi holds 48.2% of OPAL JV Co (CD&R holds 50% and Bpifrance holds 1.8%). As of December 31, 2025 the investment included a €241 million loan to OPAL JV Co being in substance part of the investment. In 2026, following finalization of the Opella completion accounts as of April 30, 2025, this loan was converted into ordinary shares. (b)The investment in EUROAPI includes an impairment loss determined by reference to the quoted market price (€1.33 as of June 30, 2026, and €2.27 as of December 31, 2025). (c)Joint venture. (d)Joint venture. MSP Vaccine Company owns 100% of MCM Vaccine BV. Share of profit/(loss) from investments accounted for using the equity method showed net income of €2 million for the first half of 2026 (including a net loss of €39 million for Sanofi’s share of losses from the associate OPAL JV Co), versus net income of €85 million for the first half of 2025 (including net income of €11 million for Sanofi’s share of profits from the associate OPAL JV Co for the period from May 1, 2025 through June 30, 2025). The financial statements include commercial 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) | June 30, 2026 | June 30, 2025
Sales (c) | 31 |  | 29
Royalties and other income (c) | 142 |  | 63
Purchases of goods and services (including research expenses) (c) | 548 |  | 371
(€ million) | June 30, 2026 | December 31, 2025
Accounts receivable and other receivables (a) | 430 |  | 588
Other assets (b) | 84 |  | 143
Other liabilities | 379 |  | 710
(a) Includes loans to joint ventures and associates. (b) In October 2024, Sanofi raised its investment in EUROAPI by €200 million in the form of a perpetual subordinated hybrid bond. The fair value of this investment as of June 30, 2026 was €84 million, versus €143 million as of December 31, 2025. (c) For the six months ended June 30, 2025, these amounts include transactions between Sanofi and OPAL JV Co for the period from May 1, 2025 through June 30, 2025. Key items from the unaudited half-year consolidated financial statements of OPAL JV Co as of June 30, 2026, as provided in accordance with Sanofi’s consolidation timelines, are presented below:
(€ million) | June 30, 2026 | June 30, 2025
Consolidated income statement |  |
Net sales and other revenues (a) | 2,657 |  | 887
Net income (a) | (61) |  | 24
Consolidated statement of comprehensive income |  |
Other comprehensive income | 83 |  | (1)
Comprehensive income | 22 |  | 23
(a) With effect from May 1, 2025, OPAL JV Co is accounted for using the equity method following the loss of control of Opella by Sanofi on April 30, 2025.
(€ million) | June 30, 2026 | December 31, 2025
Consolidated balance sheet |  |
Non-current assets | 16,673 |  | 15,013 |
Current assets | 2,925 |  | 2,859 |
Total assets | 19,598 |  | 17,872 |
Equity attributable to equity holders of OPAL JV Co | 5,958 |  | 5,380 |
Equity attributable to non-controlling interests | 436 |  | 490 |
Total equity | 6,394 |  | 5,870 |
Non-current liabilities | 11,575 |  | 9,850 |
Current liabilities | 1,629 |  | 2,152 |
Total liabilities | 13,204 |  | 12,002 |
Total equity and liabilities | 19,598 |  | 17,872 |

X
- Definition The disclosure of investments accounted for using the equity method. [Refer: Investments accounted for using equity method] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Note Expiry date 2027-01-01 -Name IAS -Number 1 -IssueDate 2025-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2025-en-b&anchor=para_10_e&doctype=Standard -URIDate 2025-03-27 + Details
Name: | ifrs-full_DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | dtr-2022:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Interests In Other Entities [Abstract] + References No definition available. + Details
Name: | sny_InterestsInOtherEntitiesAbstract
Namespace Prefix: | sny_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration