Drug Discovery and Development

  • Home Drug Discovery and Development
  • Drug Discovery
  • Genomics/Proteomics
  • Oncology
  • Neurological Disease
  • Infectious Disease
  • R&D 100 Awards
  • Pharma 50
    • 2022 Pharma 50
    • 2021 Pharma 50

Sanofi to Invest $700M in Alnylam

By Drug Discovery Trends Editor | January 14, 2014

Shares of Alnylam Pharmaceuticals Inc. soared to an all-time high price after the drug developer said it will receive a $700 million investment from the Genzyme unit of French pharmaceutical giant Sanofi as part of an expanded collaboration.
 
Alnylam, which is based in Cambridge, Mass., said the investment amounts to a price of approximately $80 per share and will give Genzyme a 12 percent stake in Alnylam. That per-share price represents a premium of about 21 percent to Alnylam’s closing price of $66.21 on Friday.
 
The companies said they will expand their agreement to develop and sell treatments for rare genetic diseases. They started teaming up in 2012 to develop Alnylam’s lead product, patisiran, which is in late-stage clinical testing as a possible treatment for transthyretin-familial amyloid polyneuropathy, a life-threatening disease that damages the nervous system.
 
Alnylam said in November that the U.S. Food and Drug Administration gave patisiran a fast-track designation, which aims to speed up the review of drugs that treat serious medical conditions and fill an unmet medical need.
 
Genzyme will receive rights to sell patisiran in all territories outside North America and Western Europe under the expanded agreement. Genzyme also receives rights to worldwide sales of three products currently being developed by Alnylam, which has no drugs on the market.
 
Alnylam, in turn, will receive funding for research and development. It also could receive milestone payments and royalties from the agreement.
 
Alnylam also announced on Sunday that it will pay another pharmaceutical giant, Merck and Co., $175 million upfront to buy its Sirna Therapeutics unit. That price entails a $25 million cash payment and $150 million in Alnylam common stock shares. Merck also could receive more than $100 million in milestone payments and royalties.
 
Date: January 13, 2013
Source: Associated Press

Filed Under: Drug Discovery

 

Related Articles Read More >

Takeda Pharmaceutical in the Drug Discovery & Development Pharma 50
Takeda’s Takhzyro fares well in pediatric hereditary angioedema study
Novartis in the Pharma 50
Novartis to cut up to 8,000 positions
Gilead Sciences in the Drug Discovery & Development Pharma 50
Gilead resubmits application to FDA for twice-yearly HIV drug lenacapavir
George Floyd mural
How the pandemic and George Floyd made clinical trial diversity a priority

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.

Need Drug Discovery news in a minute?

We Deliver!
Drug Discovery & Development Enewsletters get you caught up on all the mission critical news you need. Sign up today.
Enews Signup
Drug Discovery and Development
  • MASSDEVICE
  • DEVICETALKS
  • Medical Design & Outsourcing
  • MEDICAL TUBING + EXTRUSION
  • MEDTECH 100
  • Medical Design Sourcing
  • Subscribe to our Free E-Newsletter
  • Contact Us
  • About Us
  • Advertise With Us
  • R&D World
  • Drug Delivery Business News
  • Pharmaceutical Processing World

Copyright © 2022 WTWH Media LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media
Privacy Policy | Advertising | About Us

Search Drug Discovery & Development

  • Home Drug Discovery and Development
  • Drug Discovery
  • Genomics/Proteomics
  • Oncology
  • Neurological Disease
  • Infectious Disease
  • R&D 100 Awards
  • Pharma 50
    • 2022 Pharma 50
    • 2021 Pharma 50