Drugmaker Sanofi SA will buy Amunix Pharmaceuticals Inc for an upfront payment of about $1 billion, marking the latest acquisition by the French drugmaker in the U.S. biotech sphere as Sanofi aims to offset COVID-19 vaccine setbacks.
Sanofi, under pressure to revive its drug pipeline and eager to overcome setbacks in the COVID-19 vaccine race, added on Tuesday that it will also pay Amunix up to $225 million based on certain future development milestones.
Earlier this year, Sanofi said it would buy two U.S. biotechs, Kadmon Holdings and Translate Bio for $1.9 billion and $3.2 billion, respectively.
Read more/Source: Reuters
