Servier to buy Agios Pharma's oncology portfolio for $2B

 

• Agios Pharmaceuticals (NASDAQ:AGIO) gains 21% in premarket after announcing an agreement to sell its oncology programs to Servier, for $2B, in a move with a singular focus on accelerating and expanding its genetically defined disease portfolio, including the mitapivat programs.
• Deal value includes $1.8B in upfront cash and $200M in a potential milestone payment for vorasidenib, as well as 5% royalties on U.S. net sales of Tibsovo (ivosidenib tablets) from transaction close through loss of exclusivity and 15% royalties on U.S. net sales of vorasidenib from first commercial sale through loss of exclusivity.
• The transaction is expected to close in Q2 of 2021.
• https://seekingalpha.com/news/3646115-servier-to-buy-agios-pharmas-oncology-portfolio-for-2b