Sanofi’s Segment-Wise Sales by Region

Sanofi (SNY) products are sold in over 120 countries. The company’s markets are classified into four geographical regions for reporting purposes:

• Western Europe, excluding net sales of Sanofi Pasteur MSD, a joint venture for human vaccines with Merck and Co. for Europe
• United States
• emerging markets
• The rest of the world, which refers to Japan, Canada, Australia, and New Zealand

For Western Europe, the contribution of the pharmaceutical segment was ~25.7% of total segment sales at 7.1 billion euros in 2014. The human vaccines segment under Sanofi Pasteur was 5.1% of total segment sales at 204 million euros. The animal health segment, Merial, contributed ~24.2% of total segment sales at 502 million euros.

For the US markets, the contribution of the pharmaceutical segment was ~28.2% of total segment sales at 7.8 billion euros in 2014. The human vaccines segment under Sanofi Pasteur was 47.1% of total segment sales at 1.87 billion euros. The animal health segment, Merial, contributed ~36.0% of total segment sales at 747 million euros.

For emerging markets, the contribution of the pharmaceutical segment was ~32.6% of total segment sales at 9.0 billion euros in 2014. The human vaccines segment under Sanofi Pasteur accounted for 33.7% of total segment sales at 1.34 billion euros. The animal health segment, Merial, contributed ~28.3% of total segment sales at 587 million euros.

For the rest of the world, the contribution of the pharmaceutical segment was ~11.8% of total segment sales at 3.3 billion euros in 2014. The human vaccines segment under Sanofi Pasteur was 7.5% of total segment sales at 299 million euros. The animal health segment, Merial, contributed ~7.2% of total segment sales at 149 million euros.

Other companies like Pfizer (PFE), GlaxoSmithKline (GSK), Bristol-Myers Squibb (BMY), and AstraZeneca (AZN) compete with Sanofi on certain product mixes. The Health Care Select Sector SPDR ETF (XLV) is focused on the pharmaceutical segment.