PARIS — French pharmaceutical giant Sanofi announced
on Wednesday its second acquisition of a US firm in as many months, buying
transplant drug company Kadmon for $1.9 billion.
Sanofi has been on a buying spree in recent years and last
month finalized its acquisition of US firm Translate Bio, which is working on
an mRNA COVID vaccine, for $3.2 billion.
Kadmon makes Rezurock, a treatment for patients as young as
12 who suffer from chronic graft-versus-host disease, a complication that can
occur after a bone marrow or stem cell transplant.
"The acquisition supports Sanofi's strategy to continue
to grow its General Medicines core assets and will immediately add Rezurock
(belumosudil) to its transplant portfolio," the French firm said in a
statement.
Rezurock is a "real gem" that adds to Sanofi's
transplant medicine portfolio, said executive vice president for general
medicines, Olivier Charmeil.
Kadmon is also testing the drug to treat diffuse cutaneous
systemic sclerosis, a rare disease that affects the skin and internal organs.
Kadmon shareholders will receive $9.50 per share in cash in
the deal, which was unanimously approved by the boards of both companies.
Shares in Kadmon had closed at $5.23 in Tuesday trading.
The acquisition is expected to be completed in the fourth
quarter.
Read more Business
(window.globalAmlAds = window.globalAmlAds || []).push('admixer_async_509089081')
(window.globalAmlAds = window.globalAmlAds || []).push('admixer_async_552628228')
Read More
Helen Gym & Spa Opening: A Luxurious Wellness and Beauty Experience in Irbid
Housing Bank Sponsors Children's Event "Winter Wishes" at Haya Cultural Center
Orange Jordan Launches Innovation and Growth Opportunities (IGO) Rewarding Program for its Employees
PARIS — French pharmaceutical giant Sanofi announced
on Wednesday its second acquisition of a US firm in as many months, buying
transplant drug company Kadmon for $1.9 billion.
Sanofi has been on a buying spree in recent years and last
month finalized its acquisition of US firm Translate Bio, which is working on
an
mRNA COVID vaccine, for $3.2 billion.
Kadmon makes Rezurock, a treatment for patients as young as
12 who suffer from chronic graft-versus-host disease, a complication that can
occur after a bone marrow or stem cell transplant.
"The acquisition supports Sanofi's strategy to continue
to grow its General Medicines core assets and will immediately add Rezurock
(belumosudil) to its transplant portfolio," the French firm said in a
statement.
Rezurock is a "real gem" that adds to Sanofi's
transplant medicine portfolio, said executive vice president for general
medicines, Olivier Charmeil.
Kadmon is also testing the drug to treat diffuse cutaneous
systemic sclerosis, a rare disease that affects the skin and internal organs.
Kadmon shareholders will receive $9.50 per share in cash in
the deal, which was unanimously approved by the boards of both companies.
Shares in Kadmon had closed at $5.23 in Tuesday trading.
The acquisition is expected to be completed in the fourth
quarter.
Read more Business