Drugmakers Sanofi and Bristol-Myers Squibb said they plan to restructure their alliance from Jan. 1 to respond to the loss of exclusivity on two key drugs and the arrival of generic competition in many major markets. The move will see Bristol-Myers return rights to blood clot preventer Plavix and blood pressure treatment Avapro to the French drugmaker in all markets, the companies said in a joint statement on Wednesday.This will give Sanofi sole commercial control of the two treatments, although Bristol-Myers will keep rights to Plavix in the United States and Puerto Rico.In return, Sanofi will pay Bristol-Myers royalty payments through 2018 on its sales of branded and unbranded Plavix worldwide, excluding the U.S. and Puerto Rico, and on sales of Avapro/Avalide.Sanofi will also make a $200 million terminal payment to Bristol-Myers at the end of 2018, the companies said.
Sanofi SA, formerly Sanofi-Aventis, is a global and diversified healthcare company. Shares of SNY traded higher by 0.11% or $0.05/share to $44.02. In the past year, the shares have traded as low as $31.61 and as high as $44.97. On average, 2513540 shares of SNY exchange hands on a given day and today's volume is recorded at 1433572.
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