Sanofi SA (ADR) (NYSE:SNY) Expands Alliance With Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)
France based pharmaceutical firm Sanofi SA (ADR) (NYSE:SNY) has announced on the side lines of JP Morgan Healthcare Conference 2014 yesterday that its subsidiary Genzyme has expanded its existing strategic partnership with Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) to cover time period till 2020. This agreement will cover the development and commercialization of drugs which are used to treat genetic disorders. Paris headquartered Sanofi SA (ADR) (NYSE:SNY) will be paying $700 million to Alnylam through its subsidiary Genzyme to acquire 12 percent ownership in Alnylam stock.
Sanofi SA (ADR) (NYSE:SNY) Gets Access To Alnylam Pipeline
In exchange, Sanofi SA (ADR) (NYSE:SNY) will be getting access to a host of development stage drugs of Alnylam which are going through clinical and pre clinical trials. The two companies will be co developing these identified drugs going forward and Alnylam will retain the rights to market these drugs in North America and Western Europe, where as the Paris based firm will have exclusive rights to market these drugs in rest of the world.
Win Win Situation
Commenting about the mutually beneficial deepening of their relationship, John Maraganore, Chief Executive Officer of Alnylam has been quoted as saying, “This new relationship with Genzyme is transformational for Alnylam. It is a game changer for both the advancement of RNAi therapeutics as a new class of genetic medicines to patients around the world, and for our commitment to build a leading, independent biopharmaceutical company that delivers value to our shareholders. In this new alliance, Alnylam benefits enormously from Genzyme’s proven global capabilities, enabling us to accelerate and expand market access for our ‘Alnylam 5×15′ products.”
It is worth noting that in 2012 the two firms Alnylam and Genzyme had entered into a exclusive partnership in order to co develop and commercialize a target drug of Alnylam’s called “patisiran” which is currently progressed to Phase 3 trials.