Avast ye! France's Sanofi be plunderin' INBRX-101 from the land o' the brave for a mighty $2.2 billion doubloons!
2024-01-23
Avast ye mateys! The French healthcare scallywag, Sanofi, be snatchin' up the treasure known as INBRX-101 from its parent, Inhibrx Inc. They be payin' a mighty sum of $2.2 billion to bolster their rare disease business. The deal be includin' $30 per share in gold, a wee bit o' $5 in additional riches, and a share in the new ship, New Inhibrx. Arrr, the pirates be sailin' for new horizons!
In a delightful joint statement issued on Tuesday, both Sanofi and Inhibrx revealed that shareholders of Inhibrx will be blessed with a handsome $30 per share in shiny cash. But that's not all! They will also receive a little something called a contingent value right (CVR) worth $5. And for the grand finale, they will be granted 0.25 shares in a swashbuckling new venture known as New Inhibrx. This new company will be strutting the plank on the public trading seas. Isn't that a barrel of laughs?
Sanofi, being the clever scallywags they are, are setting their sights on expanding their rare disease business. By acquiring INBRX-101, they are hoping to add some spice to their treasure trove of medical advancements. This drug development project may hold the key to unlocking treatments for rare diseases that have long plagued the seven seas of healthcare. With this purchase, Sanofi is proving that they are willing to sail the stormy seas of drug development in search of hidden treasures.
So, it seems that Sanofi has set sail on a grand adventure, with INBRX-101 as their trusty compass. And with the excellent prospects of New Inhibrx, shareholders are surely feeling like they've hit the jackpot. Ah, the exciting life of a 17th-century pirate in the world of healthcare acquisitions! It's a tale worth telling over a pint of rum.