French Sanofi Unveils Plans to Take Over U.S. Blueprint Medicines
(MENAFN) Sanofi, the France-based pharmaceutical giant, announced on Monday its plan to purchase the US biopharmaceutical firm Blueprint Medicines Corporation for $9.1 billion, aiming to strengthen its portfolio in rare immunological conditions.
Blueprint Medicines, recognized for its focus on systemic mastocytosis (SM)—a rare immune disease—and other KIT-driven disorders, has agreed to Sanofi’s all-cash offer of $129 per share, according to Sanofi’s official statement.
This bid represents a premium of roughly 27% over Blueprint’s closing share price of $101.35 last Friday.
"The acquisition includes a rare immunology disease medicine, Ayvakit/Ayvakyt (avapritinib), approved in the US and the EU, and a promising advanced and early-stage immunology pipeline," the announcement noted.
"Furthermore, Blueprint’s established presence among allergists, dermatologists, and immunologists is expected to enhance Sanofi’s growing immunology pipeline," it added.
As part of the transaction, Blueprint shareholders will receive one non-tradeable contingent value right (CVR) per share, granting potential milestone payments of $2 and $4 per CVR if specific targets are met.
Blueprint currently markets the only approved therapy for SM, a rare condition marked by an abnormal increase of mast cells. The company is also developing next-generation treatments for SM alongside various other immune-related diseases.
This acquisition marks the largest healthcare deal in Europe so far this year.
Sanofi has been active in acquisitions recently, having purchased Vigil Neuroscience for $470 million last month, following an earlier acquisition of the same company in January.
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