Police-CHICAGO Hand Sanitizer Given To Officers Expired In 2015

[ProfessorGAC]

6. Good Post

The expirations dates, however, are mostly bogus. The logical exception being biologics.
The chemical entropy of these molecules is extraordinarily slow. Although organic compounds don't have true half-life, the first 50% decomposition is still called that. (Two reasons why it's not a real half life: 1. Ambient conditions influence the rate of entropy. It's not like radioactive decay. 2. At some point, many such compounds accelerate in decomposition as the breakdown product may cause other routes of decomposition)
Complex organics like these would have expected half lives in the dozens of years, absent extreme storage conditions.
As you said pharma still puts those on there. Your reason is probably one reason. The other is likely legal CYA.