Sanofi, Hanmi seal diabetes licence deal for up to $4.2 billion
Sanofi signed a licence deal with Hanmi Pharmaceutical to develop experimental, long-acting diabetes treatments, the French drugmaker said on Thursday, in a deal to revive its diabetes division. Korea-based Hanmi will receive an upfront payment of 400 million euros ($434 million) and is eligible for up to 3.5 billion euros in development, registration and sales milestones as well as double-digit royalties on net sales, Sanofi said. In exchange, Sanofi will obtain an exclusive worldwide licence to develop and commercialise a series of therapies.
