Sanofi terminates deal on drug license after US FTC objects
Reuters
Published Dec 11, 2023 04:39PM ET
Updated Dec 11, 2023 04:51PM ET
WASHINGTON (Reuters) - Sanofi (NASDAQ:SNY) said on Monday it was terminating a deal to exclusively license a drug that Maze Therapeutics is developing to treat Pompe disease because of objections from the U.S. government.
The U.S. Federal Trade Commission said that it had decided to fight the proposed exclusive license because the arrangement would create a monopoly for medicines to treat Pompe disease.
Sanofi said that the "delay associated with a long litigation" had led it to terminate the planned deal.
The FTC valued the deal, which was announced in May 2023, at $755 million.
Pompe disease is a rare genetic condition where a person lacks a digestive enzyme. The disease causes muscle weakness and wasting and can be fatal if not treated.
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Written By: Reuters
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