Sanofi-AgaMatrix Deal a Harbinger

Sanofi-Aventis is allying with AgaMatrix around the latter's blood glucose monitoring technology. The deal gets Sanofi a BGM product line and access to a technology around which it can begin to build an integrated diabetes management system. Importantly, it signals to other companies that it is moving in that direction. That could help Sanofi in partnering or M&A discussions around other aspects of diabetes device development, including continuous glucose monitoring, and also stimulate competitors to pick up the deal-making pace.

In keeping with its intent to enhance its presence in diabetes management, Sanofi is allying with AgaMatrix Inc. under a co-development agreement around AgaMatrix's WaveSense blood glucose monitoring (BGM) technology. [See Deal] The deal does several things for Sanofi, which is new to the BGM space. It gets a BGM product line, which it expects to have on the market in the second half of 2010. Sanofi also gains access to a technology around which it can begin to build an integrated diabetes management system including insulin, an insulin delivery system, and a monitoring system. And importantly, it signals to other companies that it is moving in that direction, which could help Sanofi in partnering or M&A discussions around other aspects of diabetes device development, including continuous glucose monitoring, and also stimulate competitors to pick up the dealmaking pace.

During its most recent earnings call, Sanofi's management emphasized that the addition of BGMs and insulin pumps would give its...

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