Sanofi plans to trade 20 drugs, 3 plants for 26.4% stake
Sanofi plans to transfer 20 mature medicines and three plants to Cheplapharm in return for a 26.4% equity stake, with completion targeted by Q3 2027.
Rhea-AI Filing Summary
Sanofi (SNY) announced plans for a strategic partnership with Cheplapharm under which Cheplapharm would take over a portfolio of 20 mature medicines and three manufacturing sites worldwide. In exchange, Sanofi will receive a 26.4% equity stake in Cheplapharm, deepening a collaboration that began in 2014.
The sites in Csanyikvölgy (Hungary), Jurong (Singapore) and Ploërmel (France) would transfer with existing employment arrangements and collective agreements maintained. Commercial transfer of the medicine portfolio is planned to start in the first quarter of 2027, with full completion of the transaction expected by the third quarter of 2027, subject to employee consultations, regulatory approvals and customary closing conditions. Sanofi states the proposed transaction is not expected to affect its 2026 financial guidance.
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Filing Explained
The proposed asset-for-equity transaction remains unpriced in monetary terms; Sanofi would receive a 26.4 percent Cheplapharm stake.
The filing leaves the proposed Sanofi–Cheplapharm transaction at the pre-completion stage and does not disclose its monetary consideration beyond the stated equity exchange.
For existing common holders, the disclosed structure is an announced exchange of Sanofi assets for an equity interest, so the transaction cannot yet be sized in monetary terms from this filing.
The disclosed scope also has a specific boundary: Lovenox/Clexane is included excluding the United States.
The filing identifies additional financial details as a later disclosure item; that information would establish the transaction's monetary economics.
Key Figures
Key Terms
strategic partnership financial
mature medicines medical
collective agreements regulatory
marketing authorizations regulatory
forward-looking statements regulatory
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What strategic partnership did Sanofi (SNY) announce with Cheplapharm?
Which medicines and sites are involved in Sanofi’s (SNY) deal with Cheplapharm?
What ownership stake in Cheplapharm will Sanofi (SNY) receive?
When is the Sanofi–Cheplapharm transaction expected to close?
Will the Cheplapharm partnership affect Sanofi’s (SNY) 2026 financial guidance?
What happens to employees at the manufacturing sites Sanofi is transferring?
How does this transaction fit Sanofi’s (SNY) strategy on mature medicines?
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of September 2026
Commission File Number: 001-31368
SANOFI
(Translation of registrant’s name into English)
46, avenue de la Grande Armée, 75017 Paris, FRANCE
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
1
In September 2026, Sanofi published the press release attached hereto as Exhibit 99.1 which is incorporated herein by reference.
Exhibit Index
| Exhibit No. |
Description | |
| Exhibit 99.1 | Press Release dated September 14, 2026: Sanofi and Cheplapharm to create new strategic partnership in mature medicines. | |
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Dated: September 17, 2026 | SANOFI | |||||||
| By | /s/ Alexandra Roger | |||||||
| Name: Alexandra Roger | ||||||||
| Title: Head of Legal Corporate & Finance | ||||||||
3
Exhibit 99.1
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Press Release
Sanofi and Cheplapharm to create new strategic partnership in mature medicines
Paris, September 14, 2026. Sanofi and Cheplapharm, a European leader in well-established medicines, today announced their intention to create a strategic partnership under which Cheplapharm would take over from Sanofi a selection of 20 mature medicines and three manufacturing sites worldwide. In return, Sanofi will receive a 26.4% equity stake in Cheplapharm, building on a collaboration that started in 2014.
The partnership is based on a shared conviction: that innovative medicines and certain mature medicines have different needs and should benefit from operating models tailored to their specific manufacturing, regulatory and commercial requirements. Cheplapharm’s specialized expertise will ensure these medicines continue to meet patients’ needs throughout the next stage of their lifecycle.
“Our multi-year journey to simplify our mature portfolio has enabled us to focus on innovation while ensuring mature medicines continue to reach patients who need them. Cheplapharm has been a trusted partner for more than a decade and this transaction significantly builds on its prior acquisitions from Sanofi’s mature medicines portfolio. This new partnership, together with our equity stake in Cheplapharm, underscores our commitment to ensuring patients continue to benefit from today’s essential medicines while also pursuing tomorrow’s breakthroughs,” said Thomas Grenier, Executive Vice President, General Medicines, Sanofi.
“This partnership marks a major milestone for Cheplapharm. Through this project, we are incorporating products that complement our extensive portfolio, as well as the expertise and manufacturing capabilities required to produce a flagship product, Lovenox®/Clexane®. This represents a long-term pharmaceutical and industrial commitment: to invest in our sites and their expertise, to preserve rare skills, and to ensure the long-term availability of these treatments for patients.” “We are proud to pursue this ambition alongside Sanofi,” said Edeltraud Lafer and Sebastian Braun, both Co-CEOs of Cheplapharm.
As part of the project, three manufacturing sites would be transferred to Cheplapharm: Csanyikvölgy in Hungary (c.400 employees), Jurong in Singapore (c.100 employees), and Ploërmel in France (c.65 employees). The teams would continue their activities with existing employment arrangements and collective agreements maintained. Sanofi and Cheplapharm will work closely together to ensure a smooth transition and continuity of supply in compliance with the highest manufacturing quality standards.
The commercial transfer of the medicine portfolio is planned to begin in the first quarter of 2027, followed by the transfer of the sites, subject to employee information and consultation procedures with employee representatives, regulatory approvals and customary closing conditions. The transaction is expected to be fully completed by the third quarter of 2027.
For Cheplapharm, this partnership represents an important step ensuring the continuity of its strategic growth. For Sanofi, it will enable the company to continue focusing its efforts on innovation, while supporting certain established medicines through the next stage of their lifecycle.
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Financial considerations for Sanofi
The proposed transaction is not expected to have any impact on Sanofi’s financial guidance for 2026. The medicines being divested from Sanofi include Lovenox/Clexane (enoxaparin)1. Additional financial details are expected to be provided at a later stage.
About Sanofi
Sanofi is an R&D driven, AI-powered biopharma company committed to improving people’s lives and delivering compelling growth. We apply our deep understanding of the immune system to invent medicines and vaccines that treat and protect millions of people around the world, with an innovative pipeline that could benefit millions more. Our team is guided by one purpose: we chase the miracles of science to improve people’s lives; this inspires us to drive progress and deliver positive impact for our people and the communities we serve, by addressing the most urgent healthcare, environmental, and societal challenges of our time. Sanofi is listed on EURONEXT: SAN and NASDAQ: SNY
About Cheplapharm
Cheplapharm is a European family-owned pharmaceutical company based in Germany, specializing in well-established originator medicines. Driven by a long-term vision of sustainable growth, the Group has invested more than €6.2 billion since its inception, acquired nearly 100 products since 2015, and holds 3,440 marketing authorizations across 160 countries. Cheplapharm is the market leader in France and a leading European player in this market segment.
Media Relations
Sandrine Guendoul | +33 6 25 09 14 25 | sandrine.guendoul@sanofi.com
Evan Berland | +1 215 432 0234 | evan.berland@sanofi.com
Léo Le Bourhis | +33 6 75 06 43 81 | leo.lebourhis@sanofi.com
Léa Ubaldi | +33 6 30 19 66 46 | lea.ubaldi@sanofi.com
Laura Romby | +33 6 74 16 74 29 | laura.romby@sanofi.com
Ekaterina Pesheva | +1 410 926 6780 | ekaterina.pesheva@sanofi.com
Victor Rouault | +1 617 356 4751 | victor.rouault@sanofi.com
Timothy Gilbert | +1 516 521 2929 | timothy.gilbert@sanofi.com
Investor Relations
Thomas Kudsk Larsen | +44 7545 513 693 | thomas.larsen@sanofi.com
Alizé Kaisserian | +33 6 47 04 12 11 | alize.kaisserian@sanofi.com
Keita Browne | +1 781 249 1766 | keita.browne@sanofi.com
Nathalie Pham | +33 7 85 93 30 17 | nathalie.pham@sanofi.com
Nina Goworek | +1 908 569 7086 | nina.goworek@sanofi.com
Thibaud Châtelet | +33 6 80 80 89 90 | thibaud.chatelet@sanofi.com
Yun Li | +33 6 84 00 90 72 | yun.li3@sanofi.com
Press contact Cheplapharm
Sandra Ammara : +33 6 79 92 71 34 – communication@cheplapharm.fr
Sanofi Forward-Looking Statements
This press release contains forward-looking statements within the meaning of applicable securities laws, including the Private Securities Litigation Reform Act of 1995, as amended.
Forward-looking statements are statements that are not historical facts. These statements include projections and estimates and their underlying assumptions, statements regarding plans, objectives, intentions, and expectations with respect to future financial results, events, operations, services, product development and potential, and statements regarding future events and economic performance. Words such as “expect,” “anticipate,” “believe,” “intend,” “estimate,” “plan,” “can,” “contemplate,” “could,” “is designed to,” “may,” “might,” “potential,” “objective,” “attempt,” “target,” “project,” “strategy,” “strive,” “desire,” “predict,” “forecast,” “ambition,” “guideline,” “seek,” “should,” “will,” “goal,” “outlook,” “guidance,” or the negative of these, and similar expressions are intended to identify forward-looking statements.
1 Excluding in the US.
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Although Sanofi’s management believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Sanofi, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include among other things, the uncertainties inherent in research and development, future clinical data and analysis, including post marketing, decisions by regulatory authorities, such as the U.S Food and Drug Administration or the European Medicines Agency, regarding whether and when to approve any drug, device or biological application as well as their decisions regarding labelling and other matters that could affect the availability or commercial potential of such product candidates; the fact that product candidates if approved may not be commercially successful; unexpected regulatory actions or delays, or government regulation generally; authorities’ decisions regarding whether and when to approve a product candidate; political pressure in the United States to mandate lower drug prices including “most favored nation” pricing for State Medicaid programs; the future approval and commercial success of therapeutic alternatives; Sanofi’s ability to benefit from external growth opportunities, to complete capital markets or other transactions, including future clinical data and analysis of existing clinical data relating to the product, including post marketing, unexpected safety, quality or manufacturing issues, competition in general; risks associated with developing standalone businesses and with intellectual property, as well as any related pending or future litigation and the ultimate outcome of such litigation; and other risks associated with trends in exchange and interest rates, volatile economic, political and financial and market conditions, cost containment initiatives, and the impact that global crises may have. More specifically regarding the transaction described above, these risks and uncertainties include among other things the possibility that the transaction will not be completed, or if completed, will not be completed in the expected timeframe, an unexpected failure to satisfy the required closing conditions, or unexpected delays in meeting these requirements, the ability to obtain regulatory clearances, the possibility that the expected strategic benefits, synergies or opportunities from the transaction may not be realized, or may take longer to realize than expected. The risks and uncertainties also include the uncertainties discussed or identified in the public filings with the SEC and the French Markets Authority (AMF) made by Sanofi, including those listed under “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Statements” in Sanofi’s annual report on Form 20-F for the year ended December 31, 2025 or contained in our periodic reports on Form 6-K. Other than as required by applicable law, Sanofi does not undertake any obligation to update or revise any forward-looking information or statements. In light of these risks, uncertainties and assumptions, you should not place undue reliance on any forward-looking statements contained herein.
All trademarks mentioned in this press release are the property of the Sanofi group.
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