Sanofi restructures its partnership with Regeneron in immuno-oncology | Photo credits: (c) Sanofi Pasteur
PARIS, June 2 (Reuters) – Sanofi announced on Thursday a restructuring of its collaboration with Regeneron in immuno-oncology with the transfer to its American partner of exclusive licensing rights for the cancer drug Libtayo.
As part of the new agreement, the French pharmaceutical group indicates that it will receive in return a payment of 900 million dollars, as well as royalties of 11% on the worldwide net sales of the treatment.
Until now, under the original 2015 agreement, the two groups shared equally in operating profits from Libtayo sales worldwide.
“The completion of this operation remains subject to the authorizations of the competition authorities and should be final in the third quarter of 2022”, specifies Sanofi in a press release. (Written by Matthieu Protard, edited by Kate Entringer)