STAT+: Agios sells cancer business to French drug maker for up to $2 billion, will now focus on inherited diseases
Agios Pharmaceuticals said Monday that it is selling its cancer business to the French drug maker Servier — a decision that will narrow the biotech’s focus to developing medicines for inherited diseases and enable a shareholder-friendly stock repurchase program.
Servier is paying $1.8 billion in cash for Agios’ entire cancer portfolio, consisting of two approved blood cancer treatments, three experimental drugs in clinical trials, and all associated Agios employees. Agios is also eligible for another $200 million in cash and royalties on future drug sales, if certain conditions are later met.
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