2016/03 – Cowen HC Conference

1. Cowen & Co. Health Care Conference
Dr. Elias Zerhouni, President – Global R&D
Boston – March 8, 2016

2. 2
Forward Looking Statements
This presentation contains forward-looking statements as defined in 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 performance. Forward-looking statements are generally identified by the words
“expects”, “anticipates”, “believes”, “intends”, “estimates”, “plans” and similar expressions. 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 FDA or the
EMA, regarding whether and when to approve any drug, device or biological application that may be filed for any such
product candidates as well as their decisions regarding labelling and other matters that could affect the availability or
commercial potential of such product candidates, the absence of guarantee that the product candidates if approved will
be commercially successful, the future approval and commercial success of therapeutic alternatives, the Group’s ability
to benefit from external growth opportunities, trends in exchange rates and prevailing interest rates, the impact of cost
containment initiatives and subsequent changes thereto, the average number of shares outstanding as well as those
discussed or identified in the public filings with the SEC and the 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, 2015. Other than as required by applicable law, Sanofi does not undertake any
obligation to update or revise any forward-looking information or statements.

3. Four Strategic Priorities
3
Reshape
the portfolio
Deliver
outstanding
launches
Simplify the organization
Sustain
innovation
in R&D
1 2 3
4
Taking our Strategy Forward in 2016

4. Significant R&D Turnaround since 2012
(1) From first in human to approval
(2) Peptide, protein, nucleic acid based molecular entities and vaccines
(3) From beginning of 2008 to end of 2011: Pentacel® (2008), Multaq® (2009), Jevtana® (2010)
(4) Toujeo®, Afrezza®, Cerdelga®, Lemtrada®, Aubagio®, Zaltrap®, Kynamro®, Hexaxim®, Fluzone® Quadrivalent, Praluent®
2012 2015
Quality over Quantity(1)
79 projects 44 projects
Prioritization Unprioritized Tiering system
Biologics(2) 58% 85%
External Innovation >65% >65%
Early Development Fast to Market Fast to Proof of Concept
Cycle Times
Slower than industry
median
Faster than industry
median
R&D Budget ~14% of sales ~14% of sales
Launches 3 launches since 2008(3) 10 launches since 2012(4)
4

5. Sustain Innovation in R&D
5
● Sustain leadership:
Diabetes/CV, Vaccines,
Rare Diseases
● Build competitive
positions: Oncology, MS,
Immunology
● Invest opportunistically:
Neurodegeneration/pain,
Infectious Diseases and
Ophthalmology
Continue to strengthen R&D
pipeline
A
C
D
B
Deliver a Balanced Pipeline… … Focused on GBU Priorities
Increasing annual R&D investments up to €6bn
by 2020 while maintaining financial discipline
Foster existing R&D
collaborations (REGN, ALNY)
Increase capacity for external
innovation
Implement the R&D 2.0 model

6. Global Roll-out Underway for Three Major Products
● Rapid market access
obtained in the U.S.(1)
● Showing early promise
in key markets
● U.S. uptake trending
favorably compared to
diabetes analogues(2)
● Launched globally
in 20 countries
● Significant progress
achieved recently
in U.S. Market Access
● >170m Commercial and
Medicare lives now
covered
● ~40% exclusive and
~60% at parity
● ODYSSEY OUTCOMES
interim efficacy analysis
expected in H2 2016(3)
● Priority introduction in
high endemic countries
● Approvals recently
granted in Mexico, the
Philippines, Brazil and
El Salvador(4)
● Regulatory decisions
pending in 16 additional
countries
● Transitioning from
licensures to vaccination
campaigns in 2016
6
Praluent® is developed and commercialized in collaboration with Regeneron
(1) As of January 1, 2016, 86% of commercial and 91% of Medicare lives covered
(2) Toujeo® analogues include: Bydureon® (AstraZeneca), Farxiga® (AstraZeneca), Invokana® (J&J), Levemir® (Novo Nordisk),
Tanzeum® (GlaxoSmithKline), Tresiba® (Novo Nordisk) and Trulicity® (Eli Lilly)
(3) Second interim analysis for futility and overwhelming efficacy when ~75% of events have occurred
(4) The Mexican Federal Commission for the Protection against Sanitary Risks, Philippines' Food and Drug Administration, Brazilian regulatory
authorities ANVISA and El Salvador Dirección Nacional de Medicamentos approved Dengvaxia®, tetravalent dengue vaccine, for the
prevention of disease caused by all four dengue virus serotypes in individuals from 9-45 years of age living in endemic areas

7. 7
Sarilumab is developed in collaboration with Regeneron
(1) Sanofi announced that the U.S. FDA accepted the lixisenatide NDA for review on September 29, 2015;
lixisenatide was approved for treatment of Type 2 Diabetes in Europe in February 2013
(2) Sanofi announced that the U.S. FDA accepted the LixiLan NDA for review on February 22, 2016
(3) Sanofi and Regeneron announced that the U.S. FDA accepted the sarilumab BLA for review on January 8, 2016
Three Regulatory Filings for New Medicines Submitted
 U.S. regulatory
decision expected
in August 2016(2)
 EU regulatory filing in
March 2016 on track
Type 2 Diabetes Rheumatoid ArthritisType 2 Diabetes
 U.S. regulatory
decision expected
in July 2016(1)
 U.S. regulatory
decision expected
in Q4 2016(3)
 EU regulatory filing
expected in Q3 2016
lixisenatide

8. Positioning Sarilumab for Potential Success in the
Rheumatoid Arthritis Biologic Market(1)
8
Sarilumab is developed in collaboration with Regeneron
(1) Sarilumab is an investigational agent under clinical development and its safety and efficacy has not been fully evaluated
by any Regulatory Authority
(2) Two subcutaneous dosing options- 200 mg and 150 mg, every other week - for all patients (not weight based)
(3) X-ray data demonstrating 90% inhibition of structural damage with 200 mg every 2 weeks SC dosing
(4) Humira® (adalimumab) is an AbbVie brand
(5) Biologics License Application submitted to the FDA in October 2015
● IL-6 plays key roles in the local joint symptoms and
systemic manifestations of rheumatoid arthritis (RA)
● Entering an €18bn RA market where unmet need is still high
● IL-6 class >€1bn in sales and growing >20%
● Unique profile features potential dosing flexibility(2) and
impact on bone erosion(3)
● Positive Phase III data in methotrexate-inadequate
responder (IR) and difficult-to-treat TNF-IR populations
● Phase 3 MONARCH monotherapy study vs. Humira®
results expected in Q2 2016(4)
● U.S. regulatory decision expected in Q4 2016(5)
● E.U. submission anticipated in Q3 2016

9. MOBILITY: Sarilumab Inhibited Progression of
Structural Damage
9
Sarilumab is developed in collaboration with Regeneron
*p<0.0001, **p=0.003
(1) Change from Baseline in mTSS (Van der Heijde modified Total Sharp Score)
(2) In the MOBILITY study, infections were the most frequently reported adverse events and were reported with a higher incidence in the sarilumab
groups vs. placebo, all in combination with MTX (39.6% for 200 mg, 40.1% for the 150 mg group and 31.1% for pbo). The incidence of serious
infections was 4.0% in the 200 mg + MTX group, 2.6% in the 150 mg + MTX group, and 2.3% in the placebo + MTX group.
(3) Incidence ≥3%
Q2W = every other week; SC = subcutaneous
0
1
2
3
0 4 8 12 16 20 24 28 32 36 40 44 48 52
90%
*
*
70%
Placebo + MTX
sarilumab 150 mg q2w + MTX
sarilumab 200 mg q2w + MTX
**
*
● X-ray data(1) demonstrating
90% inhibition of progression of
structural damage with 200 mg
Q2W SC dosing
● Safety profile consistent with
mechanism of action(2)
● Most common adverse events(3)
included neutropenia, increased
ALT, and upper respiratory
infections
Change from Baseline in mTSS
at Week 24 and Week 52

10. Fully Human IL-4Rα mAb Inhibiting
Intracellular Signaling of Both IL-4 and IL-13
Dupilumab – A Pipeline in a Product with
Multi-blockbuster Potential(1)
Dupilumab is developed in collaboration with Regeneron
Th2: T-helper 2 cells involved in “humoral-mediated” immunity
(1) Dupilumab is an investigational agent under clinical development and its safety and efficacy have not been fully evaluated by any regulatory agency 10
IL-4
IL-4Rα γc
Type I
Receptor
Type II
Receptor
IL-13
IL-4Rα IL-13Rα1
or
IL-4/IL-13 pathway may be a fundamental driver in these Th2-mediated allergic diseases
Atopic Dermatitis
● Received “Breakthrough Therapy” designation by FDA
● SOLO 1 and 2 Phase III top line results expected in Q1 2016
● CHRONOS Phase III interim results expected in Q2 2016
● U.S. regulatory submission expected in Q3 2016
Asthma
● Phase III ongoing
● Completed Phase 2b trial considered pivotal by FDA
Nasal Polyposis
● Start of Phase III expected in Q4 2016
Eosinophilic Esophagitis
● Phase II ongoing

11. ● Over 5 million people in the U.S. and
EU(1) estimated to be affected by
moderate-to-severe atopic dermatitis
● 40% of moderate-to-severe patients
uncontrolled with topicals
● Characterized by eczematous
dermatitis with intractable pruritus
● Negative impact on Quality of Life is
underestimated
● Similar or higher than in psoriasis
● Greater risk for psychological distress
including anxiety, depression and
suicidal ideation(2,3,4)
11
Atopic Dermatitis Is a Serious, Chronic, Inflammatory
Skin Condition
11
(1) Adapted from White Book on Allergy published in 2011, http://www.worldallergy.org/UserFiles/file/WAO-White-Book-on-Allergy_web.pdf
(2) Journal of Psychomatic Research 57 (2004) 195-200
(3) Acta Derm Venereol 2004;84(3):205-12
(4) Suicide Life Threat Behav 2006 2006 Feb;36(1):120-4

12. Parameter Placebo 300mg q2w 300mg qw
EASI Score(1)
-18.1% -68.2% -73.7%
50/75/90 EASI
Improvement(2) 29.5%/11.5%/3.3% 78.1%/53.1%/29.7% 82.5%/60.3%/36.5%
IGA Response(3)
1.6% 29.7% 33.3%
Pruritus NRS(4)
-11.3% -52.9% -59.7%
Dupilumab is developed in collaboration with Regeneron
(1) Least–squares (LS) mean percent change in EASI (Eczema Area Severity Index)
(2) Proportion of patients achieving EASI-50/70/90
(3) Proportion of patients achieving IGA ≤ 1 (Investigator’s Global Assessment score of 0 “clear” or 1 “almost clear”)
(4) Overall weekly mean percent change in pruritus NRS (Numeric Rating Scale)
(5) IGA response is the primary endpoint for the U.S. FDA regulatory filing; . IGA response and EASI-75 score are co-primary endpoints for regulatory
filings in the EU and Japan.
Dupilumab Significantly Improved Signs and Symptoms
in Moderate-to-Severe AD Patients Uncontrolled by Topicals
300mg qw and 300mg q2w dose regimens being studied in Phase 3 program
12
p<0.0001 vs placebo for all parameters
Phase IIb Study in AD - Change in Efficacy Endpoints at 16 Weeks
Primary endpoint
of Phase III studies(5)

13. Dupilumab Safety Findings in Moderate-to-Severe
Atopic Dermatitis(1)
13
PlaceboDupilumab
32.3%
25.0%
Nasopharyngitis
PlaceboDupilumab
14.8%
7.7%
Headache
Dupilumab Placebo
9.5%
4.6%
Injection site
reactions
● Nasopharyngitis, the most common adverse event, balanced across dupilumab
treatment groups vs. placebo
● Headache and injection site reactions more frequent with dupilumab
Phase IIb Study
Dupilumab is developed in collaboration with Regeneron
(1) Final 32wk safety results from all dupilumab dose cohorts in the Phase 2b study presented at the 73rd Annual Meeting
of the American Academy of Dermatology (AAD); San Francisco, CA, USA; March 20–24, 2015
26.2%
3.3% 3.3%

14. ● 235-300m people worldwide estimated to
be affected by asthma(1)
● ~25m people in the U.S. alone
● 10 to 20% of patients uncontrolled despite
existing therapies
● Chronic inflammatory disease leading to
acute and chronic narrowing of the airway
and increased mucus production
● Patients with asthma experience
wheezing, shortness of breath, cough
and chest tightness
14
Moderate-to-Severe Asthma Negatively Impacts the Lives
of Patients and Is Associated with High Burden to Society
14
(1) WHO, http://www.who.int/mediacentre/factsheets/fs307/en/

15. Dupilumab Shows Improvement in Lung Function
in Phase IIb in Moderate-to-Severe Asthma
15
Dupilumab is developed in collaboration with Regeneron
FEV1=forced expiratory volume over one second
During the treatment period, patients continue their stable medium- or high-dose inhaled corticosteroid and long-acting beta agonist (ICS/LABA)
combination product
Presented at the 25th Meeting of the European Respiratory Society (ERS); Amsterdam, The Netherlands; September 26–30, 2015
0
100
200
300
400
High Eosinophils
Population
Low Eosinophils
Population
Overall population
Placebo
200mg Q2W
300mg Q2W
12.8%
22.9%(1)
24.9%(2)
mL
16.6%(3)
17.3%(3)
7.0%
(1) p<0.05 vs placebo
(2) p<0.01 vs placebo
(3) p<0.001 vs placebo
Phase IIb - Mean Improvement in FEV1 at 24 Weeks
(mL and % Change from Baseline)
13.4%(2)
12.6%(2)
4.7%

16. 16
Dupilumab Shows a 64-75% Reduction in Exacerbations
in Phase IIb in Moderate-to-Severe Asthma
0,0
0,2
0,4
0,6
0,8
1,0
High Eosinophils
Population
Low Eosinophils
Population
Overall population
Placebo
200mg Q2W
300mg Q2W
Dupilumab is developed in collaboration with Regeneron
During the treatment period, patients continue their stable medium- or high-dose inhaled corticosteroid and long-acting beta agonist (ICS/LABA)
combination product
Presented at the 25th Meeting of the European Respiratory Society (ERS); Amsterdam, The Netherlands; September 26–30, 2015
-81%(2)
-71%(1)
-68%(2)
-60%(1)
(1) p<0.05 vs placebo
(2) p<0.01 vs placebo
(3) p<0.001 vs placebo
Phase IIb - Annualized Rate of Severe Exacerbation Events at 24 Weeks
-70%(3)
-70%(3)
1.0
0.8
0.6
0.4
0.2
0.0

17. 17
Dupilumab Safety Profile in Moderate-to-Severe Asthma
PlaceboDupilumab
59.2%
52.0%
Infections
PlaceboDupilumab
10.2%
4.0%
Severe AEs
Dupilumab Placebo
26.9%
12.7%
Injection site
reactions
● Injection site reaction was the most common adverse event and was more frequent with dupilumab
● Other common adverse events in the study included upper respiratory tract infection, headache,
nasopharyngitis and bronchitis
● Incidence of infections of serious adverse events was balanced across treatment groups
Phase IIb Study
Dupilumab is developed in collaboration with Regeneron
Final 24wk safety results from all dupilumab dose cohorts in the Phase 2b study presented at the 25th Meeting of the European
Respiratory Society (ERS); Amsterdam, The Netherlands; September 26–30, 2015
13.3%
5.7%
53.2%

18. 18
A Strong Profile Emerging from PoC Study Combining
Lantus® with Lixisenatide in Type 2 Diabetes(1)
Statistically significant
A1c reduction
More patients with A1c <7%
FPG + PPG control
Offsets weight gain versus insulin glargine
No additional incidence of hypoglycemia
Fixed Ratio Combination
of Two Active Components
Single Once Daily Injection =
Full results from the LixiLan-O and LixiLan-L Phase III studies
to be communicated at a medical congress in 2016, potentially at ADA
PoC: Proof-of-concept; PPG: Post-Prandial Glucose; FPG: Fasting Plasma Glucose
(1) Proof-of-concept study (323 patients): a 24-week randomized, open-label, trial comparing the efficacy and safety
of insulin glargine/lixisenatide fixed ratio once-daily combination versus insulin glargine, in type 2 diabetes
inadequately controlled with metformin

19. 19
Strengthening our R&D Portfolio in Diabetes
with Two In-Licensing Agreements
(1) SGLT2 (sodium-glucose cotransporter type 2) is a transporter responsible for most of the glucose reabsorption performed by the kidney
SGLT1 (sodium-glucose cotransporter type 1) is a transporter responsible for glucose and galactose absorption in the gastrointestinal tract,
and to a lesser extent than SGLT2, glucose reabsorption in the kidney
(2) Subject to customary closing conditions
(3) LAPS CA-Exendin-4 analog
T1DM: Diabetes mellitus type 1
Sotagliflozin - Phase II in T2 Diabetes
Phase III in T1 Diabetes
● Dual SGLT1 and SGLT2 inhibitor(1)
● Limiting meal time glucose absorption and
increasing renal glucose excretion
● Oral administration
● Adjunct therapy
to insulin
in T1DM
● Favorable
safety profile
Immunology
Efpeglenatide – Phase II
● Long acting GLP-1(3)
● Diabetes/Obesity
● Weekly/monthly administration
LAPS Insulin 115 (HM12470) – Phase I
● Long acting insulin
● Less side-effects (hypoglycemia, obesity)
● Weekly administration
LAPS Insulin Combo – Pre-clinical
● Long acting insulin + efpeglenatide combination
● Weekly administration
(2)

20. Dual Agonists for GLP-1 and Glucagon/GIP Receptors
20
● Novel synthetic peptidic molecules
developed in-house
● Expected benefit is blood glucose
control with superior weight loss over
pure GLP-1 receptor agonists
● Phase I study of dual GLP-1/Glucagon
agonist in healthy volunteers recently
completed
● Phase I study of dual GLP-1/GIP
agonist recently started
● Of particular interest in overweight to
obese people with T2D
● 60% of the T2D population
-1.4%-1.2% ∆HbA1c vs. Placebo
0
2
4
6
8
10
Day -4
Day 28
Sanofi dual
Agonist 4 µg/kg
Liraglutide
40 µg/kg
Placebo
-7
-6
-5
-4
-3
-2
-1
0
1
2
3
0 5 10 15 20 25 30
Study days
GLP-1/Glucagon Dual Agonist
Glucose Control Similar to Liraglutide - Animal Data(1)
GLP-1/Glucagon Dual Agonist
Body Weight Loss Superior to Liraglutide (~5%) - Animal Data(1)
Sanofi dual
agonist 4 µg/kg
Liraglutide
40 µg/kg
Placebo
%Bodyweightloss
(comparedtoday-5)HbA1c(%)
(1) 4 week study in obese, diabetic non-human primates comparing 4 µg/kg Sanofi dual agonist with 40 µg/kg liraglutide
and vehicle (2-step uptitration to reach maintenance dose on day 6), data on file

21. ● Acid sphingomyelinase deficiency (ASMD),
also known as Niemann-Pick Type B, is a
lysosomal storage disorder, characterized by
fat deposits in spleen and liver
● Patient identification uses established
diagnosis algorithm for Gaucher
● ASMD diagnosis rate in the low to mid-single
digits after testing negative for Gaucher
Gaucher Hematology Campaign
ASMD Patient Diagnosis
Olipudase alfa – An Investigational Treatment for ASMD
with FDA Breakthrough Therapy Designation(1,2)
Therapeutic Approach
Phosphorylcholine Ceramide
Sphingosine
Acid-
Ceramidase
Intended result:
Reverse and prevent somatic disease
if treatment begins early
Target the underlying metabolic defect
by replacing the missing enzyme
Olipudase
alfa
21
Sphingomyelin
(1) Olipudase alfa is the recombinant form of human acid sphingomyelinase currently being developed as an enzyme replacement therapy (ERT).
(2) The Breakthrough Therapy designation is supported by data from a completed Phase 1b study. The data on repeat-dose safety, pharmacodynamics,
and exploratory efficacy support continued development for the investigational use in nonneurological manifestations of ASMD.
Pivotal Phase II/III trial expected to start in Q2 2016

22. 22
TTR: transthyretin is the disease-causing protein in TTR-mediated amyloidosis; AT: antithrombin is a key endogenous anticoagulant
(1) Sanofi has exclusive territory rights for the ALN-TTR programs outside North America and Western Europe (i.e., rest-of world (ROW)
rights). In addition, Sanofi has co-development and co-commercialization rights for Revusiran in North America and Western Europe.
Sanofi has elected presently to opt into the fitusiran program for its ROW rights. Sanofi retains its future opt-in right to co-develop and co-
promote fitusiran with Alnylam in North America and Western Europe
(2) Separate trials for patients with and without inhibitor antibodies against factor VIII or Factor IX replacement therapies
patisiran
RNAi therapeutic targeting
transthyretin (TTR)
● Intravenous infusion
revusiran
RNAi therapeutic targeting
transthyretin (TTR)
● Subcutaneous injection
Phase III ongoing
in TTR Amyloidosis -
Familial Amyloidotic
Cardiomyopathy
Phase III ongoing
in TTR Amyloidosis -
Familial Amyloidotic
Polyneuropathy
Alnylam Collaboration Provides Access to Unique
RNAi Opportunities(1)
fitusiran
RNAi therapeutic targeting
antithrombin (AT)
● Subcutaneous injection
Two Phase III trials in
severe hemophilia A and B
patients planned to start in
Q3 and Q4 2016(2)
● World-class RNAi
technology
platform for rare
genetic disease
development
● Knockdown
disease causing
protein in the liver

23. Rebuilding a Competitive Position in Oncology
23
● Maximize clinical assets, particularly isatuximab
(anti-CD38 mAb) and Antibody-Drug Conjugates
● Recent collaborations to build a transformative pipeline
● Regeneron – Immuno-oncology strategic alliance
● BioNTech – mRNA therapeutics
● Innate Pharma – bispecific mAb NK cell engagers
● Warp Drive Bio – novel oncology therapies and antibiotics
● Evotec and Apeiron Biologics – novel immuno-oncology
small molecules
● Rebuild critical mass
Oncology Opportunity
Largest therapeutic area
for pharmaceuticals
Strong growth driven
by unmet need and
groundbreaking science
1
2
3

24. MTD: Maximum Tolerated Dose
(1) Patients on monotherapy study had a median of 4 prior lines of treatment and all patients received IMiD and a proteasome inhibitor; Majority (66%)
received pomalidomide or carfilzomib
(2) Patients in combination study had median of 7 prior lines of treatment (74% refractory to prior Revlimid/dexamethasone and 81% refractory to IMiDs)
HDeckert, et al. Clin Cancer Res 2014;20:4574–83. MOA: Mechanisms of action
(3) 52% of the patients experienced IARs with 3% of patients with IARs of grade 3/ 4. Pre-treatment prophylaxis used for all patients.
24
● Multiple Myeloma remains incurable
● 50,000 patients are diagnosed annually in the U.S. and Europe
● Encouraging efficacy in heavily pre-treated myeloma patients(1)
● Targets unique epitope possibly differentiating MoA(2)
● Manageable safety profile
● MTD not reached in single agent and combination
● Infusion reactions mainly cycles 1 & 2 and majority are Grade 1-2(3)
● No overlapping toxicity in combination with Revlimid®
● Monotherapy dose ranging study completed
Isatuximab (anti-CD38 mAb): a Significant Opportunity to
Potentially Address an Unmet Need in Multiple Myeloma
Phase III expected to start in Q4 2016

25. 25
New Strategic Alliance with Regeneron to Develop
Cancer Treatments in Emerging Field of IO
Establish Sanofi’s presence in cancer immunotherapy,
a rapidly growing and attractive segment of oncology
 Significant unmet needs remain despite advances shown with checkpoint
inhibitors
PD-1: Programmed death protein 1 LAG-3: Lymphocyte activation gene 3 IO: Immuno-Oncology
(1) Including bi-specifics/multi-specifics antibodies
(2) REGN2810
Entering Immuno-Oncology
1
2
3
Expand oncology pipeline, developing potentially best-in-class new
antibodies(1) and novel combination therapies
 Alliance includes PD-1(2) in Phase I and a portfolio of antibodies, including
GITR and LAG3, with the first of these entering Phase I in 2016
Enable development of multiple assets in a fast-evolving
IO space with a scale and focus beyond our existing
discovery agreement

26. 26
2016 Will Be a Busy Year for R&D Pipeline News Flow
26
Expected Regulatory Decisions Q1 Q2 Q3 Q4
● Dengvaxia® in endemic countries
● Lixisenatide in Diabetes (U.S.) 
● LixiLan in Diabetes (U.S.) 
● Sarilumab in Rheumatoid Arthritis (U.S.) 
Expected Regulatory Submissions Q1 Q2 Q3 Q4
● LixiLan in Diabetes (E.U.) 
● Dupilumab in Atopic Dermatitis (U.S.) 
Expected Phase III / IIIb Topline Data Q1 Q2 Q3 Q4
● Dupilumab in Atopic Dermatitis (SOLO 1 & 2 / CHRONOS)  
● Insulin lispro in Diabetes (SORELLA ) 
● Sarilumab in Rheumatoid Arthritis (MONARCH) 
● Praluent® ODYSSEY OUTCOMES 2nd interim analysis(1)
Expected Phase III Starts Q1 Q2 Q3 Q4
● Olipudase alfa in Niemann Pick type B(2)

● NeoGAA in Pompe 
● Fitusiran in Hemophilia 
● Efpeglenatide in Diabetes 
● Sotagliflozin in Diabetes 
● Isatuximab in Multiple Myeloma 
(1) Interim analysis for futility when ~50% of events have occurred; second interim analysis for futility and overwhelming efficacy
when ~75% of events have occurred in H2 2016
(2) Pivotal phase II/III trial