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4-Traders Homepage  >  Equities  >  Euronext Paris  >  Sanofi    SAN   FR0000120578

SANOFI (SAN)
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Sanofi : Signs Agreement with Principia Biopharma for MS Drug Candidate

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11/09/2017 | 01:15pm CEST

By Sonia Amaral Rohter

Sanofi SA (SAN.FR) on Thursday said that it has signed a license agreement with Principia Biopharma Inc. to develop an experimental oral treatment for multiple sclerosis, or MS, as part of its efforts to expand its MS franchise.

Under the terms of the deal, Sanofi will be granted an exclusive, worldwide license to develop and commercialize the drug, which is currently under clinical development. Sanofi will make an upfront payment of $40 million to Principia, and Principia will receive future milestone payments of up to $765 million as well as royalties on product sales.

According to the company, the drug candidate, referred to as PRN2246, shows promise in treating MS, a chronic inflammatory disorder of the central nervous system that affects over 2.5 million people worldwide. Principia has recently initiated a phase 1 trial of PRN2246 in healthy volunteers, according to the release.

Sanofi already has two MS medicines on the market, Aubagio and Lemtrada, as well as an in-house research and development program to address MS and other neurological diseases.

"Our agreement with Principia is an example of Sanofi's strategic commitment to build our drug discovery and development pipeline in MS and neurological diseases," says Rita Balice-Gordon, global head of the company's MS/neuroscience therapeutic research area. "Complementing our own internal R&D expertise, external relationships like this may accelerate delivery of new treatments to patients living with these serious diseases."

The transaction, which is subject to customary regulatory approvals, is expected to close in the fourth quarter.

Write to Sonia Amaral Rohter at [email protected]

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Financials (€)
Sales 2018 35 138 M
EBIT 2018 8 308 M
Net income 2018 5 086 M
Debt 2018 15 964 M
Yield 2018 4,15%
P/E ratio 2018 16,99
P/E ratio 2019 15,88
EV / Sales 2018 3,03x
EV / Sales 2019 2,87x
Capitalization 90 382 M
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 78,2 €
Spread / Average Target 8,0%
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Managers
NameTitle
Olivier Brandicourt Chief Executive Officer & Director
Serge Weinberg Chairman
Jérôme Contamine Chief Financial Officer & Executive VP-Finance
Ameet Nathwani Executive Vice President-Medical Affairs
John C. Reed Head-Global Research & Development
Sector and Competitors
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