• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

France’s Sanofi to buy U.S. biopharma firm Kadmon in $1.9 billion deal

September 8, 2021 by David Barret Leave a Comment

September 8, 2021

PARIS (Reuters) -French drugmaker Sanofi said on Wednesday it would buy U.S. biopharmaceutical company Kadmon Holdings for 1.9 billion dollars, one month after announcing the purchase of another US biotech, Translate Bio, for $3.2 billion.

Sanofi said it has offered $9.50 per share in cash for Kadmon, representing a total equity value of approximately $1.9 billion on a fully diluted basis, and that both companies’ boards unanimously approved the transaction.

Sanofi’s price tag represents a 79% premium on Kadmon’s $5.30 closing price on Tuesday.

“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 two companies said in a joint statement.

Rezurock, a treatment for adult and pediatric patients 12 years and older with chronic graft-versus-host disease (cGVHD), was approved in July by the U.S. Federal Drug Administration (FDA).

“Kadmon’s pipeline includes drug candidates for immune and fibrotic diseases as well as immuno-oncology therapies”, the companies said.

Sanofi is under pressure to revive its drug pipeline and is also eager to overcome setbacks in the COVID-19 vaccine race.

The Kadmon transaction is expected to be modestly dilutive to Sanofi’s EPS in 2022.

At Tuesday’s closing price of 86,95 euros, Sanofi’s share price is up 10.5% since the start of the year, underperforming a Stoxx 600 Europe health care index that has risen 18% during that time.

(Reporting by Sudip Kar-Gupta and Benoit Van Overstraeten; Editing by Christopher Cushing & Simon Cameron-Moore)

Source Link France’s Sanofi to buy U.S. biopharma firm Kadmon in $1.9 billion deal

David Barret
David Barret

Related posts:

  1. Taliban prepare to reveal new Afghan government amid economic turmoil
  2. Vodafone’s market-leading broadband deals come to an end tomorrow
  3. YouTravel.Me packs up $1M to match travelers with curated small group adventures
  4. Welcome to TechRadar’s PC Gaming Week 2021

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • “The Body Is Slowly And Continuously Heated”: 14,000-Year-Old Smoked Mummies Are World’s Oldest
  • Pizza Slices, Polaroid Pictures, And Over 300 Hats: What’s Left Behind In Yellowstone’s Hydrothermal Areas?
  • The Mathematical Paradox That Lets You Create Something From Nothing
  • Ancient Asteroid Ripped Apart In Collision Had Flowing Water
  • Flying Foxes Include The World’s Biggest Bat And The Largest Mammal Capable Of True Flight
  • NASA Responds To Claims That Interstellar Object 3I/ATLAS Is An Advanced Alien Spacecraft
  • Millions Of Tons Of Gold Are In Earth’s Oceans, Potentially Worth Over $2 Quadrillion
  • The Race Back To The Moon: US Vs China, Will What Happens Next Change The Future?
  • NOAA Issues G3 Geomagnetic Storm Warning As 500,000 Kilometer Hole Sends Solar Wind At Earth
  • Lasting 776 Days, This Is The Longest Case Of COVID-19 Ever Recorded
  • Living Cement: The Microbes In Your Walls Could Power The Future
  • What Can Your Earwax Reveal About Your Health?
  • Ever Seen A Giraffe Use An Inhaler? Now You Can, And It’s Incredibly Wholesome
  • Martian Mudstone Has Features That Might Be Biosignatures, New Brain Implant Can Decode Your Internal Monologue, And Much More This Week
  • Crocodiles Weren’t All Blood-Thirsty Killers, Some Evolved To Be Plant-Eating Vegetarians
  • Stratospheric Warming Event May Be Unfolding In The Southern Polar Vortex, Shaking Up Global Weather Systems
  • 15 Years Ago, Bees In Brooklyn Appeared Red After Snacking Where They Shouldn’t
  • Carnian Pluvial Event: It Rained For 2 Million Years — And It Changed Planet Earth Forever
  • There’s Volcanic Unrest At The Campi Flegrei Caldera – Here’s What We Know
  • The “Rumpelstiltskin Effect”: When Just Getting A Diagnosis Is Enough To Start The Healing
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version