Re­port — Sanofi close to bag­ging Flex­ion in a loom­ing $1B-plus buy­out, shares rock­et up

Sanofi has struck a deal to buy Flex­ion $FLXN and the pain drug it now has un­der re­view at the FDA, ac­cord­ing to a scoop in Fier­cePhar­ma.

While fi­nal terms were still be­ing ne­go­ti­at­ed, ac­cord­ing to the Fier­cePhar­ma re­port by Tra­cy Sta­ton, the on­line busi­ness news site quot­ed a source close to the deal who says that the phar­ma gi­ant is now do­ing due dili­gence af­ter com­ing to terms with the Burling­ton, MA-based biotech for an all-cash deal. Their price is in the “mid-30s,” well over 50% high­er than this morn­ing’s $19.68 price.

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