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Investing.com-- French pharmaceutical giant Sanofi (NASDAQ:SNY) said on Monday it will buy U.S.-listed Blueprint Medicines (NASDAQ:BPMC) for the latter’s rare immunology disease medicine pipeline.
Sanofi will pay $129.0 in cash for each share in Blueprint, representing an equity value of $9.1 billion. The figure is also a 27.3% premium to Blueprint’s Friday close.
Sanofi also offered Blueprint shareholders two separate contingent value right payments of $2 and $4, contingent on future regulatory developments of BLU-808, a pipeline immunology drug being developed by Blueprint. The two had entered an agreement regarding the takeover, with the total equity value of the transaction being $9.5 billion.
Acquiring Blueprint’s portfolio of immunology treatments was cited as the main motivator behind Sanofi’s offer, with Sanofi highlighting Blueprint’s Ayvakit/Ayvajyt drug, as well as a “promising advanced and early-stage immunology pipeline.”
Sanofi also said that Blueprint’s presence in allergists, dermatologists, and immunologists will enhance the former’s “growing immunology pipeline.”