Servier Completes Acquisition of Agios Pharmaceuticals' Oncology Business
PARIS and BOSTON, April 1, 2021 /PRNewswire/ --Servier a global pharmaceutical company, today announced that it has successfully completed its acquisition of Agios Pharmaceuticals, Inc.' commercial, clinical, and research-stage oncology portfolio for up to $2 billion plus royalties. The acquisition immediately strengthens Servier's commercial presence in the U.S. malignant hematology market and provides the potential for long-term growth into the solid tumor space.
"We are pleased to welcome an exceptionally talented team that will allow us to strengthen our strategic focus in oncology and expand our scientific capabilities in cellular metabolism," said Olivier Laureau, President of Servier. "It is an important milestone in Servier's oncology strategy as it significantly reinforces the Group's presence in the U.S. Together, with this expanded team, we remain committed to addressing the unmet needs of patients living with cancer across the globe."
"We appreciate the support of our employees, partners and Agios team in ensuring a seamless integration," said David K. Lee, CEO, Servier Pharmaceuticals. "The addition of TIBSOVO® and IDHIFA® to our pipeline allows us to expand our oncology leadership capabilities in the U.S. and accelerate scientific advancements for patients with hematological malignancies, including acute myeloid leukemia."
As part of the transaction, U.S.-based Agios employees who primarily support the oncology business will join Servier Pharmaceuticals LLC, a U.S. subsidiary of Servier. The transaction includes the transfer to Servier of Agios Pharmaceuticals' oncology portfolio, development pipeline and research programs, notably:
Under the terms of the transaction agreement, Agios received an upfront payment of $1.8 billion from Servier and is eligible to receive an additional $200 million in a potential regulatory milestone, plus royalties. The transaction has been approved by both companies' respective boards of directors and Agios' shareholders. All regulatory clearances have been received from government authorities outlined in the agreement.
About Servier Group
A leader in cardiology, the ambition of the Servier Group is to become a recognized and innovative player in oncology. Its growth is based on a sustained commitment to cardiovascular and metabolic diseases, oncology and immuno-inflammatory, and neurodegenerative diseases. To promote access to healthcare for all, the Servier Group also offers a range of quality generic drugs covering most pathologies.
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About Servier Pharmaceuticals
Servier is committed to finding solutions that will address today's challenges. The company's oncology portfolio of innovative medicines is designed to bring more life-saving treatments to a greater number of patients, across the entire spectrum of disease and in a variety of tumor types.
Servier believes co-creation is fundamental to driving innovation and is actively building alliances, acquisitions, licensing deals and partnerships that bring solutions and accelerate access to therapies. With our commercial expertise, global reach, scientific expertise and commitment to clinical excellence, Servier Pharmaceuticals is dedicated to bringing the promise of tomorrow to the patients that we serve.
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Servier Group (France and worldwide)
Servier Pharmaceuticals (U.S.)
Servier and its Affiliates are not acting as an advisor to the recipient of this information, and the ultimate decision to proceed with any transaction rests solely with the recipient of this information. Therefore, prior to entering into any proposed transaction, the recipient of this information should determine, without reliance upon Servier or its Affiliates, the economic risks and merits, as well as the legal, tax, and accounting characterizations and consequences, of the transaction and that it is able to assume these risks.
This statement also contains forward-looking statements that are subject to varying levels of uncertainty and risk. Investigational new drugs and indications are subject to further scientific and medical review and regulatory approval. They are not approved for use by the FDA.
Any reliance placed on this document is done entirely at the risk of the person placing such reliance. The information contained in this document is neither an offer to sell nor the solicitation of an offer to enter into a transaction.
The content of this document is a summary only, is not complete, and does not include all material information about Servier and its Affiliates, including potential conflicts of interest.
To the maximum extent permitted by applicable laws and regulations, Servier and its Affiliates disclaim all representations, warranties, conditions and guarantees, whether express, implied, statutory or of other kind, nor does it accept any duty to any person, in connection with this document. Without prejudice to the generality of the foregoing, Servier and its Affiliates do not warrant or represent that the information or opinions contained in this document is accurate or complete.
To the maximum extent permitted by applicable laws and regulations, Servier and its Affiliates shall not be liable for any loss, damage or expense whatsoever, whether direct or indirect, howsoever arising, whether in contract, tort (including negligence), strict liability or otherwise, for direct, indirect, incidental, consequential, punitive or special damages arising out of or in connection with this document, including (without limitation) any course of action taken on the basis of the same.
The estimates, strategies, and views expressed in this document are based upon past or current data and information and are subject to change without notice.
*Please see the full prescribing information for IDHIFA (enasidenib) and TIBSOVO (ivosidenib), including the Boxed WARNINGS.
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SOURCE Servier Pharmaceuticals