General

Sanofi to acquire Ablynx for €3.9bn

Amy Schofield 30 January 2018

Sanofi and Ablynx have entered into a definitive agreement under which Sanofi will offer to acquire all of the outstanding ordinary shares, including shares represented by American Depositary Shares (ADSs), warrants and convertible bonds of Ablynx at a price per Ablynx share of €45 in cash, which represents an aggregate equity value of approximately €3.9 billion.

The transaction was unanimously approved by both the Sanofi and Ablynx Boards of Directors.

According to Sanofi, the acquisition of Ablynx, a biopharmaceutical company engaged in the discovery and development of Nanobodies®, continues the company's commitment to breakthrough innovation, focused on technologies addressing multiple disease targets with single multi-specific molecules.

Sanofi's Chief Executive Officer Olivier Brandicourt said: "With Ablynx, we continue to advance the strategic transformation of our research and development, expanding our late-stage pipeline and strengthening our platform for growth in rare blood disorders. This acquisition builds on a successful existing partnership."
 
Ablynx's Chief Executive Officer Edwin Moses added: "As we look ahead, we believe Sanofi's global infrastructure, commitment to innovation and commercial capabilities will accelerate our ability to deliver our pipeline.  Our Board of Directors feels strongly that this transaction represents compelling value for shareholders and maximises the potential of our pipeline to the benefit of all stakeholders."

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