This stock is making smart investments in biotech -- and not just through partnerships, but through actual equity investments in biotechs like Regeneron (NASDAQ:REGN) and Alnylam Pharmaceuticals (NASDAQ:ALNY). It's a smart play for income investors (3.5% dividend yield) and growth investors alike.

Of course, there are threats and headwinds -- what company doesn't have them? -- but in the video below, Motley Fool health care analysts Michael Douglass and David Williamson reveal why Sanofi (NASDAQ:SNY) is their favorite European pharma stock.