Mulvaney calls U.S.-China phase-one deal trajectory ‘pretty good’

1 BUSINESS

Business News - Opportunities - Reviews

 

 

Regeneron shares fall on Sanofi’s new direction

Sanofi and Regeneron Pharmaceuticals announced plans to restructure two drug-development collaborations after Sanofi announced a new direction for the French drugmaker. In premarket trading, Regeneron’s stock was down 3%; Sanofi’s shares gained 4%. Paul Hudson, a former Novartis executive who has been running Sanofi since September, said Tuesday that the French drugmaker will exit the diabetes and cardiovascular disease categories. It will instead focus on vaccines and commercializing its pipeline, which includes cancer and hemophilia therapies. As part of this restructuring, Sanofi will get sole global rights to rheumatoid arthritis drug Kevzara and sole rights to Praluent, a PCSK9 inhibitor used to treat patients with cardiovascular disease, outside the U.S. The companies’ partnership around Dupixent, an eczema medication, will not change. Shares of Sanofi have gained 9% year-to-date, while Regeneron’s stock has fallen 2%. The S&P 500 is up 25% year-to-date.

1 BUSINESS

Business News - Opportunities - Reviews

 

 

Leave a Reply