French drug maker Sanofi said Wednesday that it will acquire Kadmon Pharmaceuticals for $1.9 billion, bolstering its transplant medicines business with a newly approved treatment for graft-versus-host disease.
The all-cash transaction sees Kadmon shares worth $9.50 per share, or a 79% premium to Tuesday’s closing price.
In July, Kadmon secured U.S. approval for Rezurock, a new treatment for chronic graft-versus-host disease — a debilitating immune condition that can affect as many as half of the blood cancer patients who undergo bone marrow transplants. Rezurock was Kadmon’s first internally developed medicine to reach the market.
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