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4-Traders Homepage  >  Equities  >  Nasdaq  >  Regeneron Pharmaceuticals Inc    REGN

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Regeneron: Sanofi Plans to Increase Stake to Over $500 Million of Stock

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02/11/2013 | 04:44pm CET
   By Melodie Warner 
 

Regeneron Pharmaceuticals Inc. (>> Regeneron Pharmaceuticals Inc) said Sanofi S.A. (SNY, SAN.FR) notified the biopharmaceutical company of its intent to boost its investment in the company and push its ownership of voting securities to more than $500 million.

Sanofi currently holds about 17% of Regeneron's shares outstanding, according to FactSet Research.

Regeneron said a December 2007 investor agreement bonds the French drug maker to certain standstill provisions, including an agreement not to acquire more than 30% of Regeneron's Class A stock and common stock outstanding.

Regeneron said these standstill provisions are in effect until the fifth anniversary of the expiration of a license and collaboration agreement between the companies.

Sanofi and Regeneron have worked together on experimental cancer drug Zaltrap, among other things.

Shares of Regeneron rose 5.6% to $175.13 in recent trading and have climbed 24% in the past three months.

Write to Melodie Warner at melodie.warner@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stocks mentioned in the article : Regeneron Pharmaceuticals Inc
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Financials ($)
Sales 2016 4 943 M
EBIT 2016 1 849 M
Net income 2016 886 M
Finance 2016 668 M
Yield 2016 -
P/E ratio 2016 49,14
P/E ratio 2017 40,21
EV / Sales 2016 7,82x
EV / Sales 2017 6,65x
Capitalization 39 310 M
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Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 451 $
Spread / Average Target 21%
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NameTitle
Leonard S. Schleifer President, CEO & Class I Director
P. Roy Vagelos Chairman
Robert E. Landry Chief Financial Officer & Senior VP-Finance
George Damis Yancopoulos Class I Director & Chief Scientific Officer
Charles A. Baker Independent Class III Director
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