The Federal Trade Commission is seeking to block Sanofi’s proposed acquisition of an exclusive license to Maze Therapeutics’ therapy in development for treatment of Pompe disease. The Commission today issued an administrative complaint and authorized a lawsuit in federal court alleging the deal, valued at up to $755M, would eliminate a nascent competitor poised to challenge Sanofi’s monopoly in the Pompe disease therapy market. The complaint, which also names Genzyme Corporation, the Sanofi subsidiary seeking to license the drug from Maze, alleges the transaction would protect Sanofi’s monopoly and eliminate competition between Sanofi and Maze to develop new Pompe drugs, denying patients and doctors the benefits of competition, including lower prices and greater innovation.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on SNY:
- Sanofi says Sarclisa Phase 3 trial met primary endpoint
- Sanofi says 12 new molecular entities with ‘blockbuster potential’ in pipeline
- White House to back controversial patent ploy to fight drug costs, STAT says
- Sanofi just downgraded at JPMorgan, here’s why
- Weight-loss drug developers rise after Roche agrees to buy Carmot