PARIS: France’s Sanofi has agreed to buy U.S.-based Blueprint Medicines Corporation for over $9 billion to boost its position in rare immunology diseases, in what would be the biggest healthcare deal in Europe this year, according to LSEG data.
Blueprint is a specialist in treatments for systemic mastocytosis, a rare immunological disorder.
The acquisition “represents a strategic step forward in our rare and immunology portfolios. It enhances our pipeline and accelerates our transformation into the world’s leading immunology company,” said Sanofi CEO Paul Hudson.
The deal would add to Sanofi’s portfolio the rare immunology disease drug Ayvakit/Ayvakyt, approved in the U.S. and the EU, and a promising advanced and early-stage immunology pipeline.
Blueprint’s established presence among allergists, dermatologists, and immunologists is also expected to enhance Sanofi’s growing immunology pipeline, the companies said.
Ayvakit/Ayvakyt is the only approved medicine for advanced and indolent systemic mastocytosis, which is characterised by the accumulation and activation of aberrant mast cells in bone marrow, skin, the gastrointestinal tract, and other organs.
Sanofi to invest at least $20 billion in the US through 2030
The acquisition would also bring elenestinib, a next-generation medicine for systemic mastocytosis, as well as BLU-808, a highly selective and potent oral wild-type KIT inhibitor that has the potential to treat a broad range of diseases in immunology.
It is the latest in a series of deals struck by Sanofi. Last month, it announced the $470 million purchase of Vigil Neuroscience and in January 2024 it struck a $2.2 billion deal for U.S biotech firm Inhibrx.
Sanofi’s shares opened little changed.
Besides $129.00 per share in cash, Blueprint shareholders would also receive one non-tradeable contingent value right (CVR) which would entitle the holder to receive two potential milestone payments of $2 and $4 per CVR for the achievement, respectively, of future development and regulatory milestones for BLU-808.
The total equity value of the transaction, including potential CVR payments, would be approximately $9.5 billion on a fully diluted basis.
Hudson said the deal complemented Sanofi’s recent acquisitions of other early-stage medicines and added that it still retained a sizable capacity for further acquisitions.
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