Sanofi hones in on type 1 diabetes in $2.9 billion Provention Bio deal
Send a link to a friend
[March 13, 2023]
By Ludwig Burger and Dina Kartit
(Reuters) -France's Sanofi has agreed to acquire Provention Bio for $2.9
billion to bolster its work on type 1 diabetes therapy and to strengthen
its drug pipeline following development setbacks.
The deal would give the French drugmaker full ownership of the approved
Tzield injection to delay progression of type 1 diabetes, which usually
appears during childhood or adolescence, affecting about 65,000 people
every year, it said in a statement.
While growth in asthma and eczema drug Dupix is boosting Sanofi's sales,
investors have criticised its drug development pipeline as weak.
Shares have yet to recover from a plunge in August following
disappointing trial results of a once-promising breast cancer drug
candidate.
Sanofi, maker of long acting insulin products Toujeo and Lantus for type
2 diabetes, in 2019 quit further type 2 diabetes drug development.
![](http://archives.lincolndailynews.com/2023/Mar/13/images/ads/current/charrons_bch_2022.png)
U.S.-based biotech firm Provention Bio won approval in the United States
last year for Tzield, making it the first drug indicated to delay the
onset of the third and final stage of diabetes in adults and children
aged 8 years and older at stage 2.
[to top of second column]
|
![](../images/031323PIX/health61.jpg)
A logo on the Sanofi exhibition space at
the Viva Technology conference dedicated to innovation and startups
at Porte de Versailles exhibition center in Paris, France June 15,
2022. REUTERS/Benoit Tessier
![](http://archives.lincolndailynews.com/2019/Sep/05/images/ads/current/stclara_lda_SPONSOR_090519.png) The transaction builds on an
existing co-promotion deal between Sanofi and Provention Bio to
provide Tzield to patients in need, the French company said in a
statement.
"Given our existing partnership and complementary work in the
diabetes and immunology spaces, we foresee a seamless integration
and execution," said Sanofi's Executive Vice President General
Medicines Olivier Charmeil.
The deal also adds certain early drug development assets in
immune-mediated diseases, Sanofi added.
It expects to complete the acquisition in the second quarter of
2023.
(Reporting by Ludwig Burger and Dina Kartit; Editing by Kim Coghill,
Kirsten Donovan)
[© 2023 Thomson Reuters. All rights
reserved.]This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content. |