Sanofi Acquires US Pharmaceutical Company Cadmen for $1.9 Billion
[Asia Economy Reporter Yuri Kim] French pharmaceutical company Sanofi has acquired another American biopharmaceutical company within a month.
On the 8th (local time), Sanofi announced that it would acquire Cadmen, headquartered in New York, USA, for $1.9 billion (approximately 2.2173 trillion KRW). Sanofi offered $9.50 in cash per common share as the acquisition price, and both Sanofi and Cadmen's boards of directors unanimously approved the deal.
Cadmen's chronic graft-versus-host disease (cGVHD) treatment Rezurock received approval from the U.S. Food and Drug Administration (FDA) last July. Sanofi stated, "This acquisition supports our strategy to continuously grow our core assets in general pharmaceuticals."
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Last month, Sanofi announced it would acquire Translate Bio, a U.S. pharmaceutical company specializing in messenger RNA (mRNA), for $3.2 billion (approximately 3.7344 trillion KRW). Sanofi has been collaborating with Translate Bio since 2018 and began joint development of an mRNA-based COVID-19 vaccine last year.
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