According to Yahoo! Finance, shares of Flexion Therapeutics Inc. increased almost 40 percent today following a report that the Burlington, Mass., biotech is in negotiations for a sale to French drugmaker Sanofi Inc.
The report was released by FiercePharma, an industry news site, and quoted unnamed sources as saying Flexion’s board had approved a Sanofi offer, but final details were still being discussed.
Flexion's Zilretta, a pain relief injection for osteoarthritis, is awaiting FDA approval for use in the knee. Analysts have suggested the potential peak sales for the new drug to be in the range of $500 million to $600 million, the story said.
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