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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 2017 5 471 M
EBIT 2017 2 174 M
Net income 2017 1 050 M
Finance 2017 2 763 M
Yield 2017 -
P/E ratio 2017 42,19
P/E ratio 2018 32,40
EV / Sales 2017 6,69x
EV / Sales 2018 5,53x
Capitalization 39 375 M
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Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 423 $
Spread / Average Target 14%
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NameTitle
George Damis Yancopoulos President & Chief Scientific Officer
P. Roy Vagelos Chairman
Robert E. Landry Chief Financial Officer & Senior VP-Finance
Charles A. Baker Independent Class III Director
Michael S. Brown Independent Class I Director
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