Sanofi Files 20-F Report for Fiscal Year Ended December 31, 2023

Ticker: SNYNF · Form: 20-F · Filed: Feb 23, 2024 · CIK: 1121404

Sanofi 20-F Filing Summary
FieldDetail
CompanySanofi (SNYNF)
Form Type20-F
Filed DateFeb 23, 2024
Risk Levelmedium
Pages15
Reading Time18 min
Key Dollar Amounts$11.85 million
Sentimentneutral

Sentiment: neutral

Topics: Sanofi, 20-F Filing, Annual Report, Financials, SEC

TL;DR

<b>Sanofi has filed its 2023 annual report on Form 20-F, detailing its financial performance and corporate information.</b>

AI Summary

Sanofi (SNYNF) filed a Foreign Annual Report (20-F) with the SEC on February 23, 2024. Sanofi filed its annual 20-F report with the SEC for the fiscal year ending December 31, 2023. The report covers the period from January 1, 2023, to December 31, 2023. The company's principal executive offices are located at 46 Avenue de la Grande Armee, Paris, France. Sanofi was formerly known as SANOFI-AVENTIS and SANOFI SYNTHELABO SA. Ernst & Young et Autres is listed as an auditor.

Why It Matters

For investors and stakeholders tracking Sanofi, this filing contains several important signals. This filing provides a comprehensive overview of Sanofi's financial position and operations for the fiscal year 2023, which is crucial for investors to assess the company's performance and future outlook. As a 20-F filing, it contains detailed financial statements and disclosures required for foreign private issuers, offering insights into the company's compliance with SEC regulations and international accounting standards.

Risk Assessment

Risk Level: medium — Sanofi shows moderate risk based on this filing. The filing is a standard annual report (20-F) which typically contains a broad range of financial and operational information, but lacks specific forward-looking guidance or immediate material events that would suggest a higher risk level.

Analyst Insight

Investors should review the detailed financial statements and risk factors within the 20-F to understand Sanofi's performance and potential challenges in the upcoming fiscal year.

Key Numbers

  • 2023-12-31 — Fiscal Year End (Conformed period of report)
  • 2024-02-23 — Filing Date (Date the 20-F was filed)
  • 2023-01-01 — Reporting Period Start (Start date of the reporting period)

Key Players & Entities

  • Sanofi (company) — Filer of the 20-F report
  • 46 Avenue de la Grande Armee, Paris (location) — Sanofi's business address
  • SANOFI-AVENTIS (company) — Former name of Sanofi
  • SANOFI SYNTHELABO SA (company) — Former name of Sanofi
  • Ernst & Young et Autres (company) — Auditor mentioned in the filing

FAQ

When did Sanofi file this 20-F?

Sanofi filed this Foreign Annual Report (20-F) with the SEC on February 23, 2024.

What is a 20-F filing?

A 20-F is a annual report for foreign private issuers, equivalent to a 10-K but following international reporting standards. This particular 20-F was filed by Sanofi (SNYNF).

Where can I read the original 20-F filing from Sanofi?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Sanofi.

What are the key takeaways from Sanofi's 20-F?

Sanofi filed this 20-F on February 23, 2024. Key takeaways: Sanofi filed its annual 20-F report with the SEC for the fiscal year ending December 31, 2023.. The report covers the period from January 1, 2023, to December 31, 2023.. The company's principal executive offices are located at 46 Avenue de la Grande Armee, Paris, France..

Is Sanofi a risky investment based on this filing?

Based on this 20-F, Sanofi presents a moderate-risk profile. The filing is a standard annual report (20-F) which typically contains a broad range of financial and operational information, but lacks specific forward-looking guidance or immediate material events that would suggest a higher risk level.

What should investors do after reading Sanofi's 20-F?

Investors should review the detailed financial statements and risk factors within the 20-F to understand Sanofi's performance and potential challenges in the upcoming fiscal year. The overall sentiment from this filing is neutral.

How does Sanofi compare to its industry peers?

Sanofi operates in the pharmaceutical preparations industry, a sector focused on the research, development, manufacturing, and marketing of drugs and medicines.

Are there regulatory concerns for Sanofi?

As a foreign private issuer, Sanofi is required to file annual reports on Form 20-F with the SEC, which includes financial statements prepared in accordance with International Financial Reporting Standards (IFRS).

Industry Context

Sanofi operates in the pharmaceutical preparations industry, a sector focused on the research, development, manufacturing, and marketing of drugs and medicines.

Regulatory Implications

As a foreign private issuer, Sanofi is required to file annual reports on Form 20-F with the SEC, which includes financial statements prepared in accordance with International Financial Reporting Standards (IFRS).

What Investors Should Do

  1. Review Sanofi's detailed financial statements for FY 2023.
  2. Analyze the company's operational segments and performance drivers.
  3. Assess the risk factors outlined in the 20-F report for potential investment considerations.

Key Dates

  • 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 20-F filing.
  • 2024-02-23: Filing Date — The date Sanofi submitted its 20-F report to the SEC.

Year-Over-Year Comparison

This is the annual 20-F filing for the fiscal year 2023, following previous filings which would have covered prior fiscal periods.

Filing Stats: 4,412 words · 18 min read · ~15 pages · Grade level 14.6 · Accepted 2024-02-23 11:15:26

Key Financial Figures

  • $11.85 million — Justice and agreed to pay approximately $11.85 million to resolve allegations regarding certai

Filing Documents

forward-looking statements

forward-looking statements This annual report contains certain forward-looking statements within the meaning of applicable federal securities law, including the Private Securities Litigation Reform Act of 1995, as amended. We may also make written or oral forward-looking statements in our periodic reports to the Securities and Exchange Commission on Form 6-K, in our annual report to shareholders, in our offering circulars and prospectuses, in press releases and other written materials and in oral statements made by our officers, directors or employees to third parties. Examples of such forward-looking statements include: projections of operating revenues, net income, business net income, earnings per share, business earnings per share, capital expenditures, cost savings, restructuring costs, positive or negative synergies, dividends, capital structure or other financial items or ratios; Words such as "believe," "anticipate," "can," "contemplate," "could," "plan," "expect," "intend," "is designed to," "may," "might," "plan," "potential," "objective," "target," "estimate," "project," "predict," "forecast," "ambition," "guideline," "should," "will," "goal," or the negative of these and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. Forward-looking statements involve inherent, known and unknown risks and uncertainties associated with the regulatory, economic, financial and competitive environment, and other factors that could cause actual future results to differ materially from those expressed or implied in the forward-looking statements. These risks and uncertainties in

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

Item 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS 1

OFFER STATISTICS AND EXPECTED TIMETABLE

Item 2. OFFER STATISTICS AND EXPECTED TIMETABLE 1

KEY INFORMATION

Item 3. KEY INFORMATION 1 A. Selected Financial Data 1 B. Capitalization and Indebtedness 1 C. Reasons for Offer and Use of Proceeds 1 D. Risk Factors 1

INFORMATION ON THE COMPANY

Item 4. INFORMATION ON THE COMPANY 15 A. History and Development of the Company 15 B. Business Overview 16 C. Organizational Structure 49 D. Property, Plant and Equipment 50 E. R&D Appendices 53

A UNRESOLVED STAFF COMMENTS

Item 4.A UNRESOLVED STAFF COMMENTS 54

OPERATING AND FINANCIAL REVIEW AND PROSPECTS

Item 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 54 A. Operating results 54 B. Liquidity and Capital Resources 74 C. Research and development, patents and licenses, etc. 78 D. Trend information 78 E. Critical accounting estimates 78

DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES

Item 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 79 A. Directors and Senior Management 79 B. Compensation 110 C. Board Practices 134 D. Employees 141 E. Share Ownership 142 F. Disclosure of action to recover erroneously awarded compensation 145

MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS

Item 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 146 A. Major Shareholders 146 B. Related Party Transactions 147 C. Interests of Experts and Counsel 147

FINANCIAL INFORMATION

Item 8. FINANCIAL INFORMATION 148 A. Consolidated Financial Statements and Other Financial Information 148 B. Significant Changes 150

THE OFFER AND LISTING

Item 9. THE OFFER AND LISTING 151 A. Offer and Listing Details 151 B. Plan of Distribution 151 C. Markets 151 D. Selling Shareholders 151 E. Dilution 151 F. Expenses of the Issue 151

ADDITIONAL INFORMATION

Item 10. ADDITIONAL INFORMATION 152 A. Share Capital 152 B . Memorandum and Articles of Association 152 C. Material Contracts 156 D. Exchange Controls 156 E. Taxation 156 F. Dividends and Paying Agents 160 G. Statement by Experts 160 H. Documents on Display 160 I. Subsidiary Information 160 J. Annual Report to Security Holders 160

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Item 11. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 161

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

Item 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 165 PART II 167

DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES

Item 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 167

MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS

Item 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS 167

CONTROLS AND PROCEDURES

Item 15. CONTROLS AND PROCEDURES 167

AUDIT COMMITTEE FINANCIAL EXPERT

Item 16A. AUDIT COMMITTEE FINANCIAL EXPERT 168

CODE OF ETHICS

Item 16B. CODE OF ETHICS 168

PRINCIPAL ACCOUNTANTS' FEES AND SERVICES

Item 16C. PRINCIPAL ACCOUNTANTS' FEES AND SERVICES 168

EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES

Item 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 168

PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS

Item 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 169

CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT

Item 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 169

CORPORATE GOVERNANCE

Item 16G. CORPORATE GOVERNANCE 169

MINE SAFETY DISCLOSURE

Item 16H. MINE SAFETY DISCLOSURE 171

DISCLOSURES REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS

Item 16I. DISCLOSURES REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 171 Item 16J. INSIDER TRADING POLI CIES 171 Item 16K. CYBERSECURITY 171 PART III 173

FINANCIAL STATEMENTS

Item 17. FINANCIAL STATEMENTS 173

FINANCIAL STATEMENTS

Item 18. FINANCIAL STATEMENTS 173

EXHIBITS

Item 19. EXHIBITS 173 2023 CONSOLIDATED FINANCIAL STATEMENTS [CETTE PAGE EST LAISSE EN BLANC VOLONTAIREMENT] PART I

Identity of Directors, Senior Management and Advisers

ITEM 1. Identity of Directors, Senior Management and Advisers Part I

Identity of Directors, Senior Management and Advisers

Item 1. Identity of Directors, Senior Management and Advisers N/A

Offer Statistics and Expected Timetable

Item 2. Offer Statistics and Expected Timetable N/A

Key Information

Item 3. Key Information A. Selected financial data N/A B. Capitalization and indebtedness N/A C. Reasons for offer and use of proceeds N/A D. Risk factors Important factors that could cause actual financial, business, research, or operating results to differ materially from expectations are disclosed in this annual report, including without limitation the following risk factors. Investors should carefully consider all the information set forth in the following risk factors and elsewhere in this document before deciding to invest in any of the Company's securities. In addition to the risks listed below, we may be subject to other material risks that as of the date of this report are not currently known to us or that we deem immaterial at this time. Risks relating to legal and regulatory matters Product liability claims could adversely affect our business, results of operations and financial condition Product liability is a significant risk for any pharmaceutical company, given that liability claims relating to our industry are unforeseeable by nature. The evolving regulatory environment worldwide (the ever-more stringent regulatory requirements applicable to the pharmaceutical industry, plus more stringent data, quality and supply obligations) clearly impacts our potential liability, and we may incur different liability claims to what we have handled in the past, with regard to their nature, scope and level. For a detailed analysis of the regulatory environment in which we operate, refer to "Item 4. Information on the Company - B. Business Overview - B.5.3 Regulatory framework." Substantial damages have been awarded by some jurisdictions and/or settlements agreed – notably in the United States and other common law jurisdictions – against pharmaceutical companies based on claims for injuries allegedly caused by the use of their products. Such claims can also lead to product recalls, withdrawals, or declining sales, and/or be accompanied by consumer frau

Key Information

ITEM 3. Key Information Although we continue to insure a portion of our product liability with third-party carriers, product liability coverage is increasingly difficult and costly to obtain, particularly in the United States. In the future, it is possible that self-insurance may become the sole commercially reasonable means available for managing the financial risk associated with product liability in our pharmaceuticals and vaccines businesses (see "Item 4. Information on the Company — B. Business Overview — B.8. Insurance and Risk Coverage"). In cases where we self-insure, the legal costs that we would bear for handling such claims, and potential damage awards to be paid to claimants, could have a negative impact on our financial condition. Due to insurance conditions, even when we have insurance coverage, recoveries from insurers may not be totally successful due to market-driven insurance limitations and exclusions. Moreover, insolvency of an insurer could affect our ability to recover claims on policies for which we have already paid a premium. Product liability claims, regardless of their merits or the ultimate success of our defense, are costly, divert management's attention, may harm our reputation, and can impact the demand for our products and generate speculative news flows and/or rumors relating to such claims. Substantial product liability claims could materially adversely affect our business, results of operations and financial condition, and/or may have an impact on market perception of our company and negatively affect our stock price. Claims and investigations relating to ethics and business integrity, competition law, marketing practices, pricing, human rights of workers and other legal matters could adversely affect our business, results of operations and financial condition Our industry is heavily regulated and legal requirements vary from country to country, and new requirements are imposed on our industry from time to time. Governments an

Key Information

ITEM 3. Key Information Each regulatory authority may also d

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