U.S. biotech company Regeneron Pharmaceuticals, Inc (REGN) said on Monday that it will repurchase $5 billion of common stock held by France’s Sanofi.The biotech firm said that the offering will have no impact on its ongoing collaboration with Sanofi formed in 2003. Regeneron will fund the purchase with a combination of $3.5 billion of cash on hand and $1.5 billion of fully-committed bridge financing from Goldman Sachs Bank USA.“Sanofi and Regeneron’s collaboration has been one of the most productive in the industry, creating significant value for both companies but more importantly, resulting in five important medicines for patients,” said Sanofi …read more
Source:: Yahoo Finance
