Committed to India's Healthcare Needs
In India's healthcare landscape, we are a trusted partner, empowering people to
overcome health challenges with innovative products that are both affordable and
accessible.
Dear Shareholders,
It is my pleasure to presentthe Integrated Annual Report of Sanofi India for the
financial year 2024. As you know, this period has been marked by significant developments
that have seminally transformed your Company.
Value Creation
Aligned with Sanofi's global strategy, your Board had announced the demerger of Sanofi
India's Consumer Healthcare business into its wholly-owned subsidiary, Sanofi Consumer
Healthcare India Limited (SCHIL), in 2023. After getting necessary statutory approvals,
the demerger became effective on June 1, 2024, marking a pivotal milestone in the
Company's transformation.
As perthe provisions of the Scheme, SCHIL issued and allotted one fully paid-up equity
share of SCHIL for every one fully paid-up equity share of Sanofi India to shareholders
recorded as of the record date. This strategic move not only unlocked enhanced value for
all shareholders but positioned both the companies to operate with greater focus, agility,
and resources.
Consequentially, Sanofi India has sharpened its commitment to delivering high quality
innovative, life-changing therapies across key therapeutic areas to all patients. In 2024,
Sanofi India successfully launched Soliqua?, a best-in-class diabetes treatment for the
premix segment, reinforcing the strength of our comprehensive diabetes portfolio.
Additionally, strategic distribution partnerships in the Central Nervous System and
Cardiovascular segments have made good progress, further strengthening our go-to- market
approach. These collaborations are expanding product reach and accessibility, ensuring
that more healthcare practitioners and patients benefit from our therapies.
Financial Performance
Even with the restructuring in 2024, Sanofi India delivered yet another year of
consistent performance. This highlights the effectiveness of our India-for-lndia strategy,
which continues to drive go-to-market excellence, operational efficiency, and innovation.
Details of the financial performance are in this Annual Report. The Board has recommended
a final dividend ofRs. 117 per equity share for the financial year ended December 31,
2024, subject to your approval at the AGM. It is important to note that this year's
dividend is at par with the previous year's dividendforthe continuing business of Sanofi
India and is not comparable with last year's dividend as that also included the demerged
Consumer Healthcare business.
Business Outlook
Despite the recent volatility and uncertainty in the global business environment and
the domestic slowdown, India continues to be one of the fastest growing large economies of
the world. Though short-term challenges persist, India's healthcare sector is
well-positioned for long-term growth, driven by rising chronic disease prevalence,
improving healthcare infrastructure and state spending, wider insurance coverage,
increasing income levels, and growing urbanization.
In this context, Sanofi India remains focused on bringing innovative medicines to the
expanding market while ensuring broader product availability to enhance healthcare
outcomes. Our world-class manufacturing Goa facility continues to service domestic
requirements while also catering to exports across several countries. Our high-quality
team continues to build on our long-standing reputation by remaining steadfast in our
pursuit of excellence, integrating environmental, social, and governance priorities
alongside financial performance to drive sustainable growth.
Our social impact strategy focuses on building a healthier, more resilient India by
ensuring access to quality healthcare for the under-served communities. A key initiative
is our diabetes management program, which provides education for patients, caregivers, and
healthcare professionals, along with funding for free insulin to many underprivileged
children in this condition.
Acknowledgments
On behalf of the Board, I extend my sincere gratitude to Sanofi India's team for their
dedication, commitment to excellence, and hard work. I also thank our partners, statutory
authorities, investors and other stakeholders for their support throughout 2024.
Lookforward to your continued support in all that we do in the times ahead.
Best wishes,
Aditya Narayan
Chairman