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(Alliance News) - AstraZeneca PLC on Tuesday said it has simplified its contract with Sanofi SA and Swedish Orphan Biovitrum, or Sobi, relating to the development and commercialisation of nirsevimab in the US, while Sanofi has also refiled its premerger form for its acquisition of Provention Bio Inc.
AstraZeneca, Sanofi and Sobi are pharmaceutical companies based in Cambridge, UK, Paris and Stockholm respectively.
Under the new arrangements, Sobi has entered into a direct relationship with Sanofi, replacing the previous participation agreement with AstraZeneca agreed in 2018.
As a result of the deal, Sanofi will pay royalties to Sobi on sales of nirsevimab in the US, while the liability from future obligations is to be eliminated. Sanofi said the simplification gives it "full commercial control of nirsevimab in the US".
AstraZeneca said it will see a gain of USD700 million as a result of the simplified contract, to be recognised in its core other operating income in 2023, and will not affect its full-year guidance.
In a separate announcement on Tuesday, Sanofi said it has withdrawn and refiled its Premerger Notification and Report Form under the HSR Act relating to its pending acquisition of Provention.
The firm said the withdrawal of the form will give the US Federal Trade Commission additional time to review. The waiting period for the refiling of the form will end on April 25, the firm said.
Sanofi also extended its tender offer to acquire all of Provention's shares, with the offer initially set to close on April 20. The offer will now run to April 25, with the acquisition expected to close in the second quarter of 2023.
AstraZeneca shares shares were 0.2% lower at 11,676.000 pence each in London on Tuesday morning, while Sanofi shares were down 0.4% to EUR102.08 per share in Paris on Tuesday morning.
By Harvey Dorset, Alliance News reporter
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