Sanofi, the Paris-based pharmaceutical companies, has sold a $13bn stake in biotech company Regeneron. The latter will repurchase $5bn of stock from Sanofi, while the French company plans to sell a further $7bn of shares in the largest public equity offering the healthcare industry has seen to date.

Furthermore, the two companies have confirmed they will continue their partnership on promising rheumatoid arthritis and eczema drugs, which has shown promise in treating the inflammatory response linked to coronavirus. Read more here.