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Sanofi to Sell Its 20.6% Stake in Regeneron, but Keep Their Collaboration Intact

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Sanofi to Sell Its 20.6% Stake in Regeneron, but Keep Their Collaboration Intact

Sanofi (NASDAQ: SNY) plans to sell most of its stake in longtime partner Regeneron Pharmaceuticals (NASDAQ: REGN). The French drugmaker currently owns 20.6% of the American biotech -- about 23.2 million shares.

Regeneron and Sanofi currently co-market eczema treatment Dupixent, rheumatoid arthritis treatment Kevzara, and cancer treatment Libtayo. And the companies have a long-term pact to develop additional drugs. None of that will change after Sanofi sells its shares.

Image source: Getty Images.

Source Fool.com

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