Sanofi fronts €300M to partner up with Innovent on China market, eyeing quick pivot to commercialization
Sanofi has found a high-profile partner in China to take two of its top cancer drug prospects through the clinic and onto the big Asian market. And they’re buying into the partner’s stock — at a significant premium — to make that happen.
At the end of the day in Europe, Paris-based Sanofi spotlighted a deal with Innovent to acquire €300 million in the Chinese pharma’s shares, at a 20% markup, with an option on €300 million more at a later date.
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