Apple Eyes Chinese Memory Chips as AI Shortage Pressures iPhone Supply Chain 
Greece’s Bad Loan Crisis Continues to Limit Credit Access Despite Economic Recovery 
Chinese Copper Foil Maker Londian Files U.S. IPO as EV Battery Demand Grows 
Kioxia Bets on AI Memory Boom With Next-Gen NAND Production in Japan 
South Korean Stocks Tumble as AI Chip Selloff Hits Asian Markets 
Denmark Central Bank Intervenes to Support Krone Peg Against Euro 
OpenAI Proposes 5% U.S. Government Stake Amid AI Policy Talks 
Northern Star Appoints New CEO as Activist Elliott Pushes for Leadership Overhaul 
Gold Price Holds Above $4,000 as Fed Rate Hike Expectations and U.S. Jobs Data Weigh on Market 
Wall Street Ends Mixed as Weak Jobs Data Lowers Fed Rate Hike Bets, Chip Stocks Tumble 
US Stock Futures Hold Steady Ahead of June Jobs Report as Fed Rate Outlook Remains in Focus 
Samsung to Invest $90 Billion in South Korea to Expand AI Chip, Display, and Battery Production 
U.S. Dollar Drops as Weak Jobs Data Boosts Fed Pause Bets, Yen Jumps on Intervention Talk 
South32 Sells Major Aluminium Assets to Alcoa in Deal Worth Up to $5.6 Billion 
Turkey Vehicle Sales Fall 11.4% in June as Auto Market Weakens 
Japan Signals Surprise Yen Intervention Strategy as BOJ Hawkish Stance Puts FX Traders on Alert 
Goldman Sachs Says China Competition Weighs More on EU Growth Than Trade Deficit 
Sanofi, a pharmaceutical company headquartered in Paris, France, announced its acquisition of the American biopharmaceutical firm, Kadmon. It was revealed that the deal is worth $1.9 billion and the French drugmaker made the purchase to further strengthen the growth of its transplant business line.
Sanofi shared the news about its latest acquisition on Wednesday, Sept. 8. The firm confirmed its purchase of Kadmon Holdings just a month after buying Translate BIO, another US-based biotech company for $3.2 billion.
According to Reuters, Sanofi offered to buy Kadmon in cash at $9.50 per share which is equivalent to more or less $1.9 billion. It was mentioned that both of the firms’ boards did not oppose the deal and granted approval for the deal to proceed.
“We are transforming and simplifying our General Medicines business and have shifted our focus on differentiated core assets in key markets,” Sanofi’s executive vice president of general medicines, Olivier Charmeil, said in a press release. “We are thrilled to add Kadmon's Rezurock to our well-established transplant portfolio. Our existing scale, expertise, and relationships in transplant create an ideal platform to achieve the full potential of Rezurock, which will address the significant unmet medical needs of patients with chronic graft-versus-host disease around the world.”
On the other hand, Kadmon’s president and chief executive officer, Harlan Waksal, M.D., said that they were thrilled as Sanofi acknowledged the value of its Rezurock oral medicine for GVHD or chronic graft versus host disease, a crippling immune-mediated condition that affects many blood cancer patients who underwent bone marrow transplants.
He added that by making use of the pharmaceutical company’s global resources and well-known expertise in developing and selling new medicines, Rezurock is now in a better position for international accessibility. Kadmon’s Rezurock is a drug for the treatment of both adults and patients who are 12 years and older. It was approved by the U.S. Federal Drug Administration (FDA) in July.
Finally, with Sanofi’s acquisition of Kadmon, the said medicine will now become the French pharma company’s third drug under its transplant medicine business. This is also its third major purchase in this year alone.
