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Regeneron Buys Sanofi Cancer Drug for Up to $1.1 Billion

  • Focus returning to oncology as pandemic threat softens
  • Regeneron wants to study Libtayo combinations, CEO says
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Regeneron Pharmaceuticals Inc. agreed to buy the immune-oncology drug Libtayo from partner Sanofi for as much as $1.1 billion, revisiting a deal that helped the French company re-enter the field of cancer research. 

Sanofi will get an upfront payment of $900 million to transfer all rights to Libtayo to its U.S. partner, according to a statement Thursday, and stands to receive another $200 million in milestone payments if the drug reaches certain regulatory and sales targets.