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Recordati Acquires Sanofi's Enjaymo for Rare Disease CAD in $1 Billion Deal; Shares Jump
Oct 4, 2024, 10:45 AM
Recordati, an Italian pharmaceutical company, announced on Friday that it will acquire the global rights to Enjaymo, a drug used to treat cold agglutinin disease (CAD), a rare autoimmune disorder, from Sanofi for $825 million upfront with potential contingent payments of $250 million, bringing the total deal value up to $1 billion. The acquisition strengthens Recordati's rare diseases franchise and sent both companies' stocks higher in early trading, with Recordati shares jumping on the news. Enjaymo has current sales of approximately €150 million and projected sales estimated at €250-300 million.
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