image credit: wirestock / Freepik

Sanofi snaps up Inhibrx and its rare disease drug for $2.2bn

January 23, 2024

France’s Sanofi – a major player in the rare disease category – is offering $30 per share for La Jolla, California-based Inhibrx, which had a closing price of just over $33 yesterday.

The cash deal values the company at $1.7 billion, and Sanofi is also promising a contingent value right (CVR) payment of $5 per share tied to the achievement of a “regulatory milestone” for AATD therapy INBRX-101.

Read More on Pharmaphorum