Sanofi keeps its deal-making momentum going

Sept. 8, 2021

About one month after announcing its $3.2 billion purchase of Translate Bio, Sanofi has struck another major deal.

This week, the France-based drugmaker said that it has reached an agreement to buy U.S.-based Kadmon Holdings, a biotech specializing in therapies for immune disorders, fibrotic diseases and cancer.

The news comes just a few months after the FDA gave its blessing to Kadmon’s Rezurock, a treatment for patients with chronic graft versus host disease, a complication that arises in about 50% of patients who’ve undergone a stem cell transplant. Rezurock is also being studied in a phase 2 trial for systemic sclerosis.

In addition, the company has an immuno-oncology treatment in a phase 1 trial.  

Sanofi, who came up short in the COVID-19 vaccine race, has sharpened its focus on bolstering its drug pipeline.

As part of the deal, Sanofi offered $9.50 per share in cash, which shakes out to about $1.9 billion in equity value.