Linkedin stock price before buyout5/26/2023 The buyout will also involve Provention’s assets in development, which are focused on autoimmune pathways. The Provention acquisition might help Sanofi prepare for the impending drop in insulin prices and remain an industry leader in diabetes. lawmakers could put a dent in Sanofi’s diabetes drug revenues. In 2019, however, the company announced it was abandoning research in this therapeutic space in favor of hotter areas like cancer, rare diseases and neurology. Sanofi owns diabetes drugs Lantus (insulin glargine) and Toujeo (insulin glargine), which in 2022 made the company around $2.4 billion and $1.2 billion, respectively. Data from this study are expected in the second half of 2023.įor Sanofi, Monday’s acquisition of Provention sits “right at the intersection between our expertise in diabetes and growth in immune-mediated diseases and disease modifying therapies in areas of high unmet need,” Charmeil said. Provention is currently running the Phase III PROTECT trial, testing Tzield in kids and teens with newly diagnosed T1D. Tzield’s approval was based on the TN-10 study, which showed the medicine reduced the risk of progression to stage 3 disease by nearly 60%. Tzield is a monoclonal antibody that targets the CD3 protein, which is found on the surface of the specific T-cell subsets involved in destroying pancreatic β cells, a pathologic hallmark of T1D. The agreement gave Sanofi an “exclusive right of first negotiation” to potentially in-license Tzield worldwide, a company spokesperson told BioSpace at the time. In October, a month before the FDA’s approval, the companies inked a co-promotion deal to support the product’s launch. Sanofi and Provention already have an existing partnership for Tzield. Sanofi plans to fund the acquisition with cash resources. The companies expect to close the buyout in the second quarter of 2023, after which a Sanofi subsidiary will merge with Provention. “We believe the commercial opportunity of TZIELD, in delay onset indication is on its own a meaningful opportunity,” Olivier Charmeil, executive vice president, General Medicines, Sanofi, told BioSpace in an email. Sanofi shares were minimally affected, with the French company trading 0.30% higher premarket. ![]() Provention’s stock soared 262% in premarket trading Monday. Tzield is indicated for adult patients and children 8 years and older. The FDA approved Tzield in November 2022 to slow the onset of stage 3 Type 1 diabetes (T1D), making it the first-ever disease-modifying treatment to delay disease progression. The buyout will give Sanofi rights over Tzield (teplizumab-mzwv), Provention’s diabetes delay drug. Sanofi will acquire diabetes leader Provention Bio for $25 per share, adding up to a total of $2.9 billion, the companies announced Monday. Sanofi bolsters diabetes position with $2.9B Provention buyout
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