The latest news on mergers and acquisitions featuring Merck & Co./Curon Biopharmaceutical and Sanofi/Recordati. Highlights below. 

* Merck Completes $700-M Acquisition of Curon’s Bispecific Antibody 
* Recordati To Acquire Rare-Disease Drug from Sanofi in $1.07 Bn Deal 
* Sanofi In Talks To Sell Majority Stake in its Consumer Healthcare Biz Opella 

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Merck Completes $700-M Acquisition of Curon’s Bispecific Antibody 
Merck & Co. has completed its $700-million acquisition of Curon Biopharmaceutical’s CN201, a clinical-stage bispecific antibody for treating B-cell associated diseases. Curon Biopharmaceutical is a Shanghai-based bio/pharmaceutical company. The deal was announced in August (August 2024).  

CN201 is currently being investigated in Phase I and Phase Ib/II clinical trials for treating relapsed or refractory non-Hodgkin’s lymphoma and relapsed or refractory B-cell acute lymphocytic leukemia, respectively.  

Under the agreement, Merck, through a subsidiary, acquired full global rights to CN201 for an upfront amount of $700 million and is recording a pre-tax charge of approximately $750 million (reflecting the upfront payment and other related costs). Curon is also eligible to receive up to $600 million in milestone payments associated with the development and regulatory approval of CN201. 

Source: Merck & Co. 

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Recordati To Acquire Rare-Disease Drug from Sanofi in $1.07 Bn Deal 
Recordati, a Milan, Italy-based bio/pharmaceutical company, has agreed to acquire the global rights to Sanofi’s Enjaymo (sutimlimab), a rare-disease drug, in a deal worth up to $1.07 billion ($825 million upfront and $250 million in milestone payments). 

Enjaymo is a humanized monoclonal antibody indicated for treating hemolysis in adults with cold agglutinin disease, a rare B-cell lymphoproliferative disorder. In 2022, it was granted approval by the US Food and Drug Administration), the European Commission, and the Japanese Ministry of Health, Labor and Welfare.  

Enjaymo had revenues of approximately EUR 100 million ($109 million) in the 12-month period ending August 2024. It is expected to generate revenue in excess of EUR 150 million ($164 million) in FY 2025, with peak sales potential of EUR 250-300 million ($273-328 million), according to information from Recordati.  

Under the agreement, Recordati will make an upfront payment of $825 million and additional commercial milestone payments of up to $250 million, if net sales reach certain thresholds at or above the top end of peak-year sales expectations. The transaction is expected to close by the end of 2024, subject to regulatory clearances. 

Source: Recordati 

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Sanofi In Talks To Sell Majority Stake in its Consumer Healthcare Biz Opella 
Sanofi reports it has entered into negotiations with Clayton, Dubilier & Rice (CD&R), a private equity firm, for the potential sale of a 50% controlling stake in Opella, Sanofi’s consumer healthcare business. Sanofi provided the update on October 11, 2024.  

Opella now operates as a stand-alone business unit within Sanofi with dedicated R&D and manufacturing capablities. Headquartered in France, Opella employs over 11,000 people, operates in 100 countries, and has 13 manufacturing sites and four research and innovation centers. Opella has a portfolio of 100 consumer healthcare brands, including Allegra, Doliprane, Novanight, Icy Hot, and Dulcolax. 

Source: Sanofi