By Colin Kellaher

Regeneron Pharmaceuticals Inc. on Thursday said it is buying out partner Sanofi SA's stake in their collaboration on the anti-PD-1 cancer drug Libtayo.

Regeneron said it would secure global rights to Libtayo by making an upfront payment of $900 million to Sanofi, which is also eligible for royalties and up to $200 million in potential future milestone payments.

Regeneron, of Tarrytown, N.Y., and France's Sanofi are jointly developing and commercializing Libtayo under a 2015 global collaboration agreement under which the companies split the drug's worldwide operating profits equally.

Libtayo is approved in more than two dozen countries for the treatment of several cancers, with 18 different investigational treatment combinations with the drug being studied in 22 clinical trials.

Regeneron and Sanofi are also partners on the blockbuster eczema drug Dupixent, which they have collaborated on since 2007.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

June 02, 2022 08:04 ET (12:04 GMT)

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