(AOF) – The French pharmaceutical giant Sanofi (-0.51% to 102.34 euros) would study the possibility of acquiring the American manufacturer of cancer drugs Mirati Therapeutics Inc, according to Bloomberg. The latter’s shares jumped 45% yesterday – the biggest since 2017 after falling 37% over the past year. Mirati is now valued at around $4.2 billion. “Deliberations are underway and it is not certain that they will lead to an agreement,” underlines Bloomberg.
Mirati is developing its first product, a drug called Krazati used against a type of lung cancer in which the KRAS gene has mutated. The company received accelerated approval from the Food and Drug Administration for the drug in December. A buyout would give Mirati additional resources to commercialize the treatment and fund further studies. Mirati lost its CEO and then its financial director in August 2023.
This announcement ends a week full of announcements for the French laboratory. It announced on Wednesday an agreement with Teva Pharmaceuticals, the American subsidiary of Teva Pharmaceutical Industries Ltd. with a view to the co-development and co-commercialization of TEV’574, an asset which is currently the subject of phase IIb clinical trials for the treatment of ulcerative colitis and Crohn’s disease, two inflammatory diseases of the intestine. Berenberg believes in an October 5 note that this “strong strategic agreement” “adds a mid-stage asset to the pipeline and strengthens Sanofi’s position in the autoimmune disease space.”
On Tuesday, the laboratory unveiled an agreement with Janssen Pharmaceuticals, a company of the Johnson & Johnson group, for the development and commercialization of a 9-valent vaccine candidate against extra-intestinal pathogenic strains of E. coli. “We predict a 40% probability that this vaccine will bring in 800 million euros” comments Berenberg.
“We view these agreements as positive, with a reasonable price for new assets that complete the franchise,” says Berenberg, who remains a Buy on the stock with a price target of 115 euros.
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