Sanofi ends licensing deal with Maze Therapeutics after FTC action
Sanofi SA (FR:SAN) said late Monday it will scuttle an agreement with biotech Maze Therapeutics Inc. after federal trade regulators sought to block it, saying the deal would eliminate competition for the treatment of a rare genetic condition. "We respectfully disagree with the action by the [Federal Trade Commission] which also delays potential advancements that could impact the lives of patients," Sanofi said. "The Maze partnership was designed to apply Sanofi's resources, knowledge, and expertise to accelerate the development" of a treatment for Pompe disease, a "devastating condition," the company said. Earlier Monday, the FTC said that it was seeking to block Sanofi's plan to buy Maze Therapeutics Inc.'s therapy in development for treatment of Pompe because the deal, valued at up to $755 million, "would eliminate a nascent competitor poised to challenge Sanofi's monopoly in the Pompe disease therapy market."
-Claudia Assis
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
12-11-23 1642ET
Copyright (c) 2023 Dow Jones & Company, Inc.-
Never Mind Market Efficiency: Are the Markets Sensible?
-
Starbucks Stock Could Use a Pick-Me-Up After Big Selloff; Is it a Buy?
-
5 Cheap Stocks to Buy From an Attractive Part of the Market
-
Markets Brief: All Eyes On Inflation
-
5 Things We Learned From the Q1 Earnings Season
-
After Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
What’s Happening In the Markets This Week
-
Can the Fed Declare Victory on Inflation?
-
The Best REITs to Buy
-
3 Hot Stocks to Buy That Still Look Undervalued
-
After Earnings, Is Eli Lilly Stock a Buy, a Sell, or Fairly Valued?
-
Today’s Market Volatility Could Provide Tomorrow’s Opportunities
-
40 of the Best Investment Picks
-
Tech Stock Dividends Are Changing the Face of Dividend Growth Investing
-
Roblox Earnings: Weakening Engagement Has Weighed On Growth
-
The Best Gaming Stocks to Buy