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Sanofi beats Novo to buy Ablynx for $4.8 billion in biotech M&A boom

Sanofi is already one of Ablynx's big pharma partners, after striking a deal in July 2017 to find new treatments for inflammatory diseases

Reuters  |  PARIS/LONDON 

French drugmaker Sanofi has agreed to buy Belgian biotech company Ablynx for 3.9 billion euros ($4.8 billion), beating Novo Nordisk and marking its second big deal this month after buying Bioverativ. The deal is a further sign of accelerating merger and acquisition (M&A) activity in the global biotech sector and comes after Ablynx rejected a 2.6 billion euro offer from Denmark's Novo Nordisk. Sanofi said on Monday it would pay 45 euros per share in cash for Ablynx, a premium of 21 percent over its closing price on Friday - and more than double the price before Novo went ...

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First Published: Mon, January 29 2018. 21:17 IST
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