Sanofi to Acquire U.S. Biopharmaceutical Company Kadmon
08 September 2021 - 7:51AM
Dow Jones News
By Cecilia Butini
French pharmaceutical major Sanofi SA said Wednesday that it has
entered into a definitive agreement to acquire U.S.-based
biopharmaceutical company Kadmon Holdings Inc.
Sanofi said that holders of Kadmon common stock will receive
$9.50 a share in cash, representing a total equity value of about
$1.9 billion on a fully diluted basis.
The company said that the acquisition supports its strategy to
strengthen growth in its transplant business and to continue to
expand its general medicines core assets. As a result, Sanofi said
it will immediately add Rezurock--a drug used in the treatment of
post-transplant graft-versus-host disease--to its transplant
portfolio.
Sanofi said it plans to finance the transaction in cash, and
that it expects to close it in the fourth quarter of 2021, pending
customary closing conditions.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
September 08, 2021 01:36 ET (05:36 GMT)
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