Sanofi sells an anti-anemia treatment to Italy's Recordati

(CercleFinance.com) - Italian pharmaceutical group Recordati announced on Friday that it has reached an agreement to buy Sanofi's anemia treatment Enjaymo for a sum that could exceed one billion dollars.


The Milan-based drugmaker points out that Enjaymo is already approved in Europe and Japan for the treatment of hemolytic anemia in adults suffering from Cold Agglutinin Disease (CAD), a rare and severe chronic autoimmune hemolytic anemia.

This pathology causes the immune system to mistakenly attack healthy red blood cells, leading to their degradation.

In a press release, Recordati points out that Enjaymo generated sales of over 100 million euros in the past 12 months, and that sales should exceed 150 million euros by 2025, before peaking at between 250 and 300 million euros annually, more than double current levels.

The company adds that this intravenously administered antibody will enable it to strengthen its oncology portfolio focused on rare diseases.

Under the terms of the agreement, Recordati will make an upfront payment of $825 million, with the possibility of a further payment of up to $250 million subject to the achievement of certain commercial targets.

The transaction, financed from existing resources and new banking facilities, is expected to be finalized by the end of the year.

Recordati shares rose by more than 1% on the Milan Stock Exchange following the acquisition, while Sanofi shares gained more than 1.5% in Paris, outperforming the CAC 40 index (+1%).

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