- Sanofi (SNY) has agreed to acquire a 12% holding in Alnylam Pharmaceuticals (ALNY) for $700M in a deal that will also deepen the companies' co-operation in the development of therapies for rare genetic diseases.
- Sanofi is paying $80 a share for the stake, a 21% premium to Alnylam's closing price of $66.21 on Friday.
- Sanofi and Alnylam will expand their partnership involving Patisiran, a development-stage treatment for a rare life-threatening nervous-system disease called transthyretin-familial amyloid polyneuropathy. Sanofi will sell Patisiran in all markets outside North America and Western Europe, adding to its rights in Japan and Asia-Pacific.
- Sanofi will gain the rights to develop and market three other drugs as well, and an option on all of Alnylam's drugs for rare genetic diseases.
- The deal comes after Sanofi suffered a patent cliff in which it lost IP protection on nine drugs in three years. (PR)
Sanofi deepens relationship with Alnylam in $700M deal
Jan 13 2014, 03:29 ET