Drugmakers Sanofi and Bristol-Myers Squibb plan to revamp their 15-year-old alliance from Jan. 1 in response to lost exclusivity on two key drugs and the arrival of generic competition in major markets.The move will see Bristol-Myers return rights to blood clot preventer Plavix and blood pressure treatment Avapro/Avalide 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, which will continue unchanged through 2019.In return, Sanofi will pay Bristol-Myers royalties through 2018 on sales of Plavix worldwide, excluding the U.S. and Puerto Rico, and on sales of Avapro/Avalide. Sanofi will then make a $200 million terminal payment to Bristol-Myers, the groups said.
Sanofi SA, formerly Sanofi-Aventis, is a global and diversified healthcare company. Shares of SNY remained unchanged at $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 0.
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