Bullish options flow was detected in SNY stock on December 4, 2019.
On December 2, 2019, Baxter International (BAX) entered into a definitive agreement to acquire Seprafilm Adhesion Barrier and related assets from Sanofi (SNY). “The agreement is the latest example of Baxter’s continued focus on acquiring products and technologies that have a strong strategic fit with the company’s leading portfolio across the hospital, including in the operating room,” the company said in a statement. The transaction contemplates a cash purchase price at closing of $350M and is expected to close no later than Q1 of 2020, following satisfaction of closing conditions. Seprafilm currently has sales in the U.S., Japan, China, South Korea and France, among others, according to Baxter. Sales of the proposed acquired products are expected to be approximately $100M in the 12 months following close, it added.
Also on December 2, 2019, Ligand Pharmaceuticals (LGND) announces it has entered into a worldwide OmniAb license agreement with Sanofi (SNY). Under the agreement, Sanofi will be able to use Ligand’s full OmniAb antibody discovery platform which includes OmniRat, OmniFlic, OmniMouse, OmniChicken and OmniClic in addition to Ligand’s patented antigen technology. OmniAb is licensed to over 40 corporate partners globally, and this deal with Sanofi adds to a growing portfolio of OmniAb discovery and clinical development programs with global fully-integrated pharmaceutical companies. Sanofi will pay Ligand an up-front platform access fee, development and regulatory milestone payments and potential royalties on sales of marketed products.