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‘Friendly Breakup’: Sanofi And Regeneron Agree Equity Revamp

Pair Say Stock Move Will Not Hurt Their Drug Development Pact

 
• By Sten Stovall

Sanofi to sell most of its Regeneron stake, with much of it being re-purchased by Regeneron, but both stressed the move would not hurt their long established and very profitable drug-development collaboration.

Sanofi selling Regeneron stake, Regeneron repurchasing $5bn of own shares. • Source: Shutterstock

In a mutually agreed set of stock transactions, Sanofi will offload most of its 20.6% stake in Regeneron Pharmaceuticals Inc. while the US pharma will buy much of it back as part of CEO Paul Hudson’s plan to generate cash and re-vamp the French drug maker. Both said the co-ordinated equity exercise would not hurt their successful and lucrative drug development partnership.

The two companies have had a research and marketing partnership since 2003, which led Sanofi to build up an equity...

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