By Michelle F Davis, Dinesh Nair, and Albertina Torsoli for Bloomberg News
- Mirati’s stock soars 45% for biggest one-day gain since 2017
- Cancer drugmaker is rolling out first product to patients
“French pharmaceutical firm Sanofi is exploring a potential acquisition of cancer drugmaker Mirati Therapeutics Inc., according to people familiar with the matter.
Mirati is in the process of rolling out its first product to patients, a lung-cancer drug called Krazati. Shares of the San Diego-based company surged 45% on Thursday following Bloomberg’s report on the deliberations, giving it a market value of $4.2 billion.
A deal for Mirati would further bolster Sanofi’s drug pipeline, helping the company to reduce its reliance on the blockbuster asthma medicine Dupixent. The company has narrowed a trading discount to its big European pharma peers in recent years, thanks to Dupixent’s explosive growth and the introduction of new drugs for hemophilia and respiratory syncytial virus in young children…”
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