Sanofi S.A.

Sanofi, based in Paris, is one of the world's largest pharmaceutical companies, built around prescription medicines, vaccines and consumer health, with the blockbuster immunology drug Dupixent as its main growth engine. It is sharpening its focus on innovative medicines while spinning off its consumer-health arm. Sanofi has a long record of paying and raising its dividend, and recent strong growth in its drug pipeline has supported healthy increases. A dependable, growing yield backed by a resilient, defensive healthcare business makes it a solid income holding.