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Agios to Sell Cancer Portfolio to Servier for $1.8 Billion

  • Known for oncology, Agios will now focus on genetic disease
  • Biotech to make buybacks after deal’s expected 2021 closing
Updated on

Agios Pharmaceuticals Inc. said it agreed to sell its portfolio of oncology drugs to Servier Pharmaceuticals LLC for $1.8 billion in a move that will increase the biotechnology company’s focus on treatments for genetic diseases.

Included in the pact announced Monday with closely held Servier are two drugs for acute myeloid leukemia, Tibsovo, and Idhifa, which Agios co-commercializes with Bristol-Myers Squibb Co. The drugs are expected to bring Agios sales this year of $114 million and $130 million, respectively, according to estimates compiled by Bloomberg. The deal also includes Agios’s oncology pipeline and clinical programs.