Sanofi has concluded an agreement to sell its anti-inflammatory drugs portfolio to Italian company Fidia Farmaceutici to streamline established products.
The latest deal continues the company’s strategic transformation by simplifying its portfolio.
Sanofi General Medicines executive vice-president Olivier Charmeil said: “Established Products is an important growth driver for Sanofi. However, we are re-focusing our efforts as part of the company’s overall strategic transformation in order to pioneer new opportunities that will drive strong health outcomes for the millions of lives we touch.
“Upon completion of appropriate regulatory processes, today’s agreement with Fidia Farmaceutici will ensure patients will have continued access to these seven brands while also allowing for us to further optimise our operating model through our play-to-win strategy.”
The divestment covers registrations, trademarks and related commercial rights of seven products, including four corticosteroids and one non-steroidal anti-inflammatory drug, across Europe and emergent markets.
Sanofi noted that the products are currently used for treating a wide range of conditions in several therapeutic areas.
Fidia Farmaceutici president and CEO Carlo Pizzocaro said: “The acquisition confirms our will, despite the tough challenge created by Covid-19, to continue investing in core pharmaceutical business as part of our international growth, not only thanks to consolidation in the areas in which we are leaders but also through more solid positioning as a result of entering different therapeutic areas.”
The companies will not divulge the commercial terms of the agreement.
In January, Sanofi signed an agreement to acquire clinical-stage biopharmaceutical company Kymab for an upfront cash payment of about $1.1bn.