Sanofi (SAN) AGM 2025 summary

Opening remarks and agenda

• The AGM was held on April 30, 2025, in Paris, with thanks to shareholders, confirmation of quorum, and a comprehensive agenda covering governance, strategy, financials, achievements, manufacturing, auditor reports, compensation, Q&A, and voting outcomes.

Financial performance review

• 2024 sales grew by 11.3%, driven by new product launches and strong Dupixent performance, exceeding EUR 13 billion in sales.

• Operating income rose 7.6%, net EPS up 4.1%, and R&D investment increased to EUR 7.4 billion.

• Free cash flow reached EUR 6 billion, impacted by one-off items, but underlying growth was 25%.

• Double-digit sales growth in pharma launches (+71.4%), vaccines (+13.5%), and Dupixent (+23.1%).

• Share buyback program of EUR 5 billion announced for 2025, with a proposed dividend of EUR 3.92 per share for 2024, marking 30 consecutive years of increases.

Board and executive committee updates

• Board held 14 meetings in 2024, with high attendance and focus on R&D transformation, acquisitions, AI, and talent management.

• Board comprised of 16 directors (if all proposals approved), with 78.6% independence, 43% gender diversity, and 50% international presence.

• Jean-Paul Kress co-opted as Director, bringing extensive pharma and biotech experience; several director reappointments and succession plans discussed.

• Fabienne Lecorvaisier’s term ended; Board now has 16 directors.

• Executive Committee remains stable, with new appointments in Corporate Affairs and Specialty Care.