Pharma BD Deal Intelligence
Sanofi's $540M ophthalmology bet never produced a marketed drug — both of Fovea's own clinical assets were killed within three years, and related gene-therapy programs were handed back a decade later.
Full analysis, sources & comparables →GEN framed the deal as defensive: "acquisition of Fovea will help the firm pad its pipeline, as it faces generic competition to its top-selling drug" (Plavix),…
Chris Viehbacher described "the very promising and dynamically growing ophthalmic area" as "a major opportunity for Sanofi"; Marc Cluzel, Sanofi's R&D chief,…
Christopher A. Viehbacher, CEO of sanofi-aventis: "FOVEA is a unique opportunity to lay the foundation stone of an ophthalmology franchise" — the deal was for…
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Sanofi-Aventis acquired Fovea Pharmaceuticals, a French ophthalmology-focused biotech, for a total enterprise value of up to EUR 370 million (~$540 million), comprising an upfront payment and milestone payments tied to Fovea's three clinical compounds. Announced October 1, 2009 and closed October 30, 2009, the acquisition laid the foundation of an ophthalmology franchise for Sanofi-Aventis as it faced generic pressure on Plavix. Fovea's venture backers, including Sofinnova Partners, Abingworth, the Wellcome Trust and Gimv, exited through the sale.
Sanofi's $540M ophthalmology bet never produced a marketed drug — both of Fovea's own clinical assets were killed within three years, and related gene-therapy programs were handed back a decade later.
Assessment window: 15yr post-close.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Sanofi-Aventis / Fovea Pharmaceuticals SA (this deal) | 2009 | $541M | 23 |
| Sanofi-Aventis / Symbion Consumer (Primary Health Care) | 2008 | $544M | 71 |
| Sanofi-Aventis / Merial Limited (Merck's 50% interest) | 2009 | $4.0B | 65 |
| Sanofi-Aventis / Acambis plc | 2008 | $548M | 36 |
| Sanofi-Aventis / Shantha Biotechnics Limited | 2009 | $784M | 34 |
| Sanofi-Aventis / BiPar Sciences, Inc. | 2009 | $500M | 8 |
| Sanofi-Aventis / ImmunoGen Inc. | 2005 | $18M | — |
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More: 2009 deals · Sanofi-Aventis deals