LONDON (ShareCast) - (Sharecast News) - Sanofi said on Monday that it has agreed to buy US biopharmaceutical firm Blueprint Medicines for $9.1bn.
Blueprint specialises in systemic mastocytosis (SM), a rare immunological disease, and other KIT-driven diseases.

The deal 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, Sanofi said.

It added that Blueprint's established presence among allergists, dermatologists, and immunologists is expected to enhance its growing immunology pipeline.

Sanofi noted that Ayvakit/Ayvakyt is the only approved medicine for advanced and indolent systemic mastocytosis (ASM & ISM), a rare immunology disease, which is characterised by the accumulation and activation of aberrant mast cells in bone marrow, skin, the gastrointestinal tract, and other organs.

The acquisition will also bring elenestinib, a next-generation medicine for SM, as well as BLU-808, a highly selective and potent oral wild-type KIT inhibitor that has the potential to treat a broad range of diseases in immunology.

Under the terms of the deal, Sanofi will pay $129.00 per share in cash. Blueprint shareholders will also will receive one non-tradeable contingent value right (CVR) which will entitle the holder to receive two potential milestone payments of $2 and $4 per CVR for the achievement, respectively, of future development and regulatory milestones for BLU-808.

Sanofi chief executive Paul Hudson said: "The proposed acquisition of Blueprint Medicines represents a strategic step forward in our rare and immunology portfolios. It enhances our pipeline and accelerates our transformation into the world's leading immunology company.

"This acquisition is fully aligned with our strategic intent to strengthen our existing therapeutic areas, to bring relevant and differentiated medicines to patients and to secure attractive returns to our shareholders. It complements recent acquisitions of early-stage medicines that remain our main field of interest. Sanofi still retains a sizeable capacity for further acquisitions."

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE