Sanofi to buy US drugmaker for over $9 billion
French pharmaceutical company Sanofi is acquiring biopharmaceutical company Blueprint Medicines, a U.S. developer of drugs for the treatment of rare autoimmune diseases, for more than $9 billion, according to Sanofi’s website.
Sanofi will pay $129 per share, totaling about $9.1 billion, when the deal closes in the third quarter, and up to $400 million in additional cash if certain conditions are met.
As part of the deal, the French company will receive, among other things, the rights to Ayvakit, the only drug approved in the United States and the European Union to treat mastocytosis, a rare immunological disease.
Ayvakit generated $479 million in revenue last year. It sold $150 million of it in the first quarter of this year, an increase of more than 60 percent year-on-year.
Sanofi’s share price was down 1.15 percent at the end of the first hour of trading on the Paris Stock Exchange on Monday.
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