Sanofi acquires the Belgian biotech company Ablynx for the amount of 3.9 billion EUR
French medicines producer Sanofi acquires the Belgian biotech company Ablynx for the amount of 3.9 billion EUR, defeating the significantly lower offer of the Danish Novo Nordisk. This is the second big deal for Sanofi since the beginning of the year following the acquisition of Bioverativ last week, and represents a further acceleration of the merger and acquisition business in the global biotech sector, which analysts expect a generous year.
The deal is on the back of Ablynx’s refusal to be cheated by Novo Nordisk for 2.6 billion EUR.
The French company said it would pay 45 EUR per share, representing a premium of 21.2% above its price at Friday’s closing.
“With Ablynx, we continue to advance our strategy for the transformation of our R&D work and deepening in the field of rare blood diseases”, said the CEO of Sanofi, Olivier Brandicourt.
Last week it became clear that his company buys hematopoietic research and treatment specialist Bioverativ for 11.6 billion USD, which was Sanofi’s biggest deal for the last seven years.
The French company pointed out that their last deal would have a positive effect on its shareholders in the long term, but would not affect its earnings per share in 2018 and 2019.
Sanofi is one of Ablynx’s largest partners, but with the purchase of the company, it will now have access to one of its most valuable assets – the experimental drug Caplacizumab, which is used in the treatment of rare blood disorders. According to Olivier Brandicourt, the medicine will complement the line of products of the company after the acquisition of Bioverativ and the contract for the acquisition of drug rights Fitusiran from Alnylam.
In 2016, the French manufacturer lost the prize to Medivation for cancer treatment at the expense of American Pfizer. It also missed the opportunity to acquire the Swiss biotech company Actelion, which was bought by Johnson&Johnson last year.
Sanofi’s shares have not changed much since the news that the French company pays much more for Ablynx than Novo Nordisk’s offer a few weeks ago.