Recordati S.p.A., (RCDTF.PK) a pharmaceutical company, Friday said it agreed with Sanofi to acquire the global rights to Enjaymo, the only approved treatment for people with cold agglutinin disease.
Cold agglutinin disease is a rare autoimmune disorder characterized by the premature destruction of red blood cells.
The transaction, expected to conclude by year end, is estimated to add to Recordati's earnings with immediate effect. Subject to the closing date, Recordati expects minimal revenue contribution in 2024, the company added.
As per the deal, Recordati will make an upfront payment of $825 million with additional earnout payments of up to $250 million on meeting certain sales targets.
As of August 2024, Enjaymo generated revenue of about 100 million euros over the last 12 months and expects it to be more than 150 million euros in fiscal 2025. The company sees peak sales potential of 250 million euros-300 million euros for the drug, more than double the current levels.
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