- Sanofi SNY said if it ever bid for a biotech company Horizon Therapeutics Public Limited Co HZNP, it would do so in cash.
- Horizon Therapeutics Plc has a market capitalization of approximately $18 billion and is in talks with amgen inc AMGNSanofi and Johnson&Johnson JNJ Unit Janssen Global Services on potential takeover bids.
- Horizon, which makes drugs for rare, autoimmune and serious inflammatory diseases, said there was no certainty it would receive a takeover bid.
- UBS said a deal would be “doable and wouldn’t look bad in terms of P&L impact” but expressed doubts about a sale, Reuters reports.
- While the acquisition of Horizon would add a mixed portfolio of specialty drugs to Sanofi’s roster, it wouldn’t meet the French company’s need to develop its drug pipeline and improve its R&D productivity, UBS said.
- Sanofi completed its acquisition of Immuno-Oncology in 2022 company Amunix Pharmaceuticals for around $1 billion.
- Price promotion: SNY shares traded 1.85% lower at $45.02 on the last check Friday.
© 2022 Benzinga.de. Benzinga does not provide investment advice. All rights reserved.
[ad_2]
Source story
