Sanofi is a French pharmaceutical company organized around three franchises: Specialty Care, General Medicines, and Vaccines. The business is overwhelmingly driven by Dupixent (dupilumab), a biologic co-developed and co-commercialized with Regeneron that blocks the IL-4 and IL-13 pathways to treat type 2 inflammatory diseases. Dupixent is approved across eight U.S. indications, including atopic dermatitis, asthma, COPD, and chronic spontaneous urticaria, and generated €15.7B in FY2025 sales. Sanofi sells prescription drugs primarily through wholesale distributors, hospitals, and pharmacies, while specialty and rare disease products are often sold directly to physicians or hospitals. The Rare Diseases portfolio includes enzyme replacement therapies for conditions like Gaucher and Pompe disease, plus hemophilia treatments including ALTUVIIIO and the newly launched Qfitlia. The Vaccines franchise — one of the largest globally — is led by influenza vaccines and Beyfortus, a long-acting monoclonal antibody for RSV in infants co-commercialized with AstraZeneca. General Medicines is a mature, largely off-patent portfolio of insulins, anticoagulants, and cardiovascular drugs that generates cash but faces structural revenue decline from biosimilar and generic competition. Sanofi's growth strategy centers on expanding Dupixent into new indications, advancing a pipeline in immunology, and deploying M&A capital into early-to-mid stage assets following the divestiture of its Opella consumer healthcare unit.