Sanofi Set to Acquire US Biotech Firm Blueprint Medicines in $9.1 Bn Agreement

Sanofi will acquire Blueprint Medicines for $9.1B, adding Ayvakit and pipeline drugs, elenestinib and BLU-808. Shareholders get $129/share plus potential milestone payouts.

French pharma group Sanofi has recently agreed to buy US-based Blueprint Medicines Corporation, a publicly traded biopharmaceutical company specializing in systemic mastocytosis (SM), a rare immunological disease, and other KIT-driven diseases.

The deal will add the rare immunology disease drug Ayvakit/Ayvakyt (avapritinib) to Sanofi's portfolio.

Approved in the US and the EU, the drug is an advanced and early-stage immunology pipeline.

Paul Hudson, CEO of Sanofi said, “The acquisition represents a strategic step forward in our rare and immunology portfolios. It enhances our pipeline and accelerates our transformation into the world's leading immunology company.”

The Financial Outlay

Under the terms of the merger agreement, Sanofi will commence a cash tender offer to acquire all outstanding shares of Blueprint for $129.00 per share in cash, reflecting a total equity value of approximately $9.1 billion.

Ayvakit/Ayvakyt is the only approved medicine for advanced and indolent systemic mastocytosis, a rare immunology disease characterized by the accumulation and activation of aberrant mast cells in bone marrow, skin, the gastrointestinal tract, and other organs.

The acquisition will also include Elenestinib, which is a next-generation, potent, and highly selective KIT D816V inhibitor with limited central nervous system penetration.

Additionally, the merger will also present BLU-808, an investigational oral, highly potent, and selective wild-type KIT inhibitor that has the potential to treat a broad range of diseases in immunology.

Under the terms of the merger agreement, Sanofi will commence a cash tender offer to acquire all shares of Blueprint for $129.00 per share in cash, reflecting a total equity value of approximately $9.1 billion.

Besides $129.00 per share in cash at the closing of the deal, Blueprint shareholders will also receive one non-tradeable contingent value right (CVR) which will entitle the holder to receive two potential milestone payments of $2 and $4 per CVR for the achievement, respectively, of future development and regulatory milestones for BLU-808.

Stay tuned for more such updates on Digital Health News.

Stay tuned for more such updates on Digital Health News