Sanofi’s Kadmon Bolt-On Bolsters Its General Medicine Division
Deal Adds Transplant Pill Rezurock For Chronic Graft-Versus-Host Disease
Sanofi’s $1.9bn cash purchase of Kadmon surprised many analysts, coming as a bolt-on for the French pharma’s general medicines transplant portfolio rather than its specialty care pipeline, but the overall view was that it made sense.
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Public Company Edition: Only nine drug developers went public in the US, raising $807m in the first quarter, versus 32 IPOs raising $5.2bn in Q1 of last year. Also, MoonLake closed its SPAC merger, Sanofi priced €650m in sustainability-linked bonds in €1.5bn note sale, and Kaleido will cease operations.
Totals for aggregate deals and in the M&A, alliance and divestment categories were similar among the 10 busiest deal makers from 2020 to 2021, but COVID-19 may have driven a more hectic deal-making pace overall in 2020.
Sanofi’s general medicines business will embrace an omnichannel commercial model in 2022 to reduce inefficiencies and stabilize topline growth. Virtual sales reps are on the rise after a tough couple of years managing product promotion and launches online only.