Sanofi’s Paul Hudson pays $357M to buy a biotech partner, adding an NK strategy in the latest move to beef up cancer R&D
A year after Amsterdam-based Kiadis underwent a wrenching reorganization after its lead drug went pffffffft at the EMA, battering the share price and butchering the market cap, Sanofi’s deal hungry CEO is swooping in for the low-cost buyout.
Paul Hudson has agreed to buy the company for €308 million ($357 million), which is a whole lot more than the minuscule market cap $KDS left behind after the stock flatlined last November. The stock closed Friday at €1.46, less than a third of the €5.45-per-share Sanofi is paying for the 23-year-old player, which Sanofi partnered with last summer.
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