Sanofi Finalises Purchase of Inhibrx

Sanofi has revealed that it has finished acquiring the biotech, getting access to Inhibrx’s vast portfolio of novel biologics aimed at cancer and rare disorders. In January, Sanofi revealed its plan to acquire Inhibrx for $1.7 billion.

The surge in mergers and acquisitions (M&As) observed in the biopharma industry in the first quarter 2024 coincides with Sanofi’s most recent purchase. Experts at GlobalData Healthcare estimate that quarter one 2024 showed a 20% rise in overall transaction activity over the first quarter of 2023, with $43.5 billion overall M&A purchases and a 71% rise in agreements valued at $1 billion or greater.

Regardless of the Federal Trade Commission implementing tougher rules on M&A regulation in December 2023, GlobalData Healthcare experts claimed the latest rise in activity is a sign of a “return in dealmaking confidence” and could indicate that big pharma is attempting to reduce difficulties from the Inflation Reduction Act.