Home FINANCE Sanofi to explore acquisition of cancer drugmaker Mirati- Bloomberg News

Sanofi to explore acquisition of cancer drugmaker Mirati- Bloomberg News


(Reuters) -Paris-based drugmaker Sanofi is exploring a potential acquisition of cancer drugmaker Mirati Therapeutics, Bloomberg News reported on Thursday citing people familiar with the matter.

Deliberations are ongoing and there is no certainty they will result in an agreement, the report said, adding that Mirati could also attract interest from other suitors.

A Sanofi spokesperson responded to a Reuters’ request saying the company does not comment on market rumors. Mirati, whose shares rose about 40% to $60, also said it does not comment on market rumors or speculation.

The U.S. health regulator had in December approved Mirati’s lung cancer drug, Krazati, to treat adults with advanced lung cancer.

The oral drug — the company’s only approved product — is designed to target a mutated form of a gene known as KRAS, which occurs in about 13% of non-small cell lung cancer, the most common form of the disease, and less frequently in some other solid tumors.

In November last year, Bloomberg had reported that Mirati was drawing takeover interest from large pharmaceutical companies.

Mirati’s chief financial officer, Laurie Stelzer, stepped down from the role in August this year, while Chief Executive Officer David Meek left the company earlier that month.

(Reporting by Sriparna Roy in Bengaluru; Editing by Shilpi Majumdar)

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