French pharma group Sanofi has agreed to buy US-based Blueprint Medicines Corporation, a biopharmaceutical company specializing in systemic mastocytosis, a rare immunological disease, according to reports.

Under the terms of the acquisition, Sanofi will pay $129.00 per share in cash, representing an equity value of approximately $9.1 billion.

"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," says Sanofi CEO Paul Hudson.

The agreement will enhance Sanofi's portfolio with the rare immunology medication Ayvakit/Ayvakyt (avapritinib), authorized in the US and the EU, along with a promising pipeline of advanced and early-stage immunology products.

Blueprint's well-established relationships with allergists, dermatologists, and immunologists are anticipated to bolster Sanofi's expanding immunology pipeline, the companies noted.

Ayvakit/Ayvakyt is the sole authorized treatment for advanced and indolent systemic mastocytosis, a rare immunological disorder marked by the buildup and activation of abnormal mast cells in the bone marrow, skin, gastrointestinal system, and additional organs.

The acquisition will include elenestinib, an advanced treatment for systemic mastocytosis, along with BLU-808. This highly selective and effective oral wild-type KIT inhibitor may address a wide array of diseases in immunology.

In addition to $129.00 per share in cash upon deal closure, Blueprint shareholders will obtain one non-tradeable contingent value right (CVR), granting the holder eligibility for two potential milestone payments of $2 and $4 per CVR for achieving future development and regulatory milestones related to BLU-808.

The overall equity value of the deal, accounting for possible CVR payments, stands at roughly $9.5 billion on a fully diluted basis.

 

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The agreement enhances recent purchases of other early-stage drugs that continue to be Sanofi's primary area of focus and stated that Sanofi still holds a significant ability for additional acquisitions.