Daily Management Review

Sanofi to buy assets of US biopharmaceutical Inhibrx for $2.2B


The American biopharmaceutical company Inhibrx is selling its assets to French company Sanofi for a reported $2.2 billion.

Vaccines at Sanofi
Vaccines at Sanofi
In a press release, Sanofi stated that it is purchasing all of the Inhibrx assets associated with the investigational medication INBRX-101. This medication is intended to treat an uncommon genetic condition called alpha-1-antitrypsin insufficiency, which causes lung tissue to gradually deteriorate.

"The inclusion of the promising INBRX-101 asset in our rare disease portfolio supports the company's strategy to diversify our offerings," Sanofi stated in a press release.

After being split off into a separate business, Inhibrx's remaining assets will go public.

The parties intend to conclude the deal in the second quarter of this year.

source: cnn.com