Sanofi (SAN:CA) Presents at Citi Annual Global Healthcare Conference 2025 Transcript

Graham Glyn Parry
Citigroup Inc., Research Division

Thanks for joining us at the next session. I’m Graham Parry from Citi, and it’s a pleasure to be able to introduce Sanofi and in particular, to introduce Paul Hudson, the CEO. It’s great to have you here in Miami, Paul. I’m sure it’s nothing to do with the sand and the sea that interest you here. It’s purely been the investment community.

But perhaps if I can get you to kick off with some high-level sort of the opening remarks just to talk about where you think Sanofi is at the moment. And I guess the thing that’s on a lot of investors’ minds still is how Sanofi planning, the Dupixent LOE in 2031 and the sort of Sanofi look like post that date.

Paul Hudson
CEO & Director

So a few things. We’ve come a long way. Just to give you some headlines. We were, I don’t know, $33 billion in revenue when I joined around $45 billion now. We were 118,000 people in 2019. We’re around about 72,000 now. We forget how many, but upwards of 70 sites in manufacturing, we’re now 38. We’ve really tried to modernize the company, we exited consumer. We’ve tried to turn ourselves into an R&D led pharma company because we felt we were structurally going to be behind our peers.

We had to do a lot and invest a lot in our own pipeline and we even recommitted our buyers to that in ’23 when we took quite a hit saying that we needed to do this. And we needed to