Amlitelimab

2025 年 6 月 2 日，赛诺菲（Sanofi）宣布一项重磅交易，以 95 亿美元收购 Blueprint Medicines，旨在通过此次收购拓展其罕见病产品组合，并加强在免疫领域的早期管线布局。这一交易成为赛诺菲今年以来的第三笔收购，凸显了其在专业护理领域的战略野心。一、95 亿美元收购：锁定罕见病明星产品与潜力管线赛诺菲为此次收购支付 91 亿美元预付款，若 Blueprint Medicines 的候选药物 BLU-808 达到开发和监管里程碑，交易总价值将升至 95 亿美元。此次收购的核心资产是已获批的系统性肥大细胞增多症治疗药物 Ayvakit。Blueprint Medicines 在 2024 年凭借该产品实现 4.79 亿美元净产品收入，2025 年第一季度同比增长 61% 后，将全年指引上调至 7 亿至 7.2 亿美元。赛诺菲专业护理业务负责人布莱恩・福德（Brian Foard）在与分析师的电话会议中表示，Ayvakit 的市场推广 “刚刚起步”，赛诺菲对 Blueprint 的估值反映了该产品目前 “极低的先进疗法渗透率”，以及公司对其长期潜力的信心。Leerink 分析师安迪・贝伦斯（Andy Berens）预计，Blueprint 的收入将在 2030 年达到 17 亿美元，而市场共识预期更高，达 21 亿美元。二、管线协同：下一代疗法与免疫领域新突破除了已上市的 Ayvakit，赛诺菲还将获得 Blueprint Medicines 的下一代系统性肥大细胞增多症疗法 elenestinib。赛诺菲首席执行官保罗・哈德森（Paul Hudson）向分析师强调，elenestinib 提供了 “贯穿 2030 年代的增长机会”，其潜力 “至关重要”。另一项推动交易的关键管线是 BLU-808，这是一种 KIT 抑制剂，可应用于多种炎症性疾病。赛诺菲计划借助 BLU-808 在免疫领域的潜力，与现有管线形成协同。福德指出，Blueprint 在关键专科医生中的既有影响力与赛诺菲正在构建的免疫药物管线（如 amlitelimab、lunsekimig 和 TL1A）高度契合，其商业基础设施能自然融入赛诺菲的皮肤科、过敏科和消化科等推广渠道。三、战略布局：赛诺菲的收购狂潮与资本运作此次收购是赛诺菲今年以来的第三笔收购。此前，该公司分别以 6 亿美元和 4.7 亿美元收购了 Dren Bio 和 Vigil Neuroscience。这些交易为赛诺菲补充了管线，哈德森坦言，公司过去一年的管线 “在某些数据读出方面经历了坎坷”，而收购成为快速增强竞争力的重要手段。尽管 95 亿美元的收购规模已达哈德森此前承诺的估值上限，赛诺菲的收购 appetite 并未满足。首席财务官弗朗索瓦 - 格扎维埃・罗杰（François-Xavier Roger）表示，公司仍保留 “进行进一步业务开发的重要能力，尤其是在早期药物和疫苗领域”，将通过现金和新债务为交易融资。四、行业影响：罕见病领域整合加速赛诺菲此次收购凸显了罕见病领域的战略重要性。随着基因治疗和精准医疗的发展，罕见病药物市场正成为大型药企的必争之地。Ayvakit 在系统性肥大细胞增多症治疗中的潜力，以及 elenestinib 和 BLU-808 的后续开发，可能为赛诺菲带来数十亿美元的长期收益。然而，分析师也对 Ayvakit 的增长轨迹存在疑问，特别是其专利到期时间可能在 2034 年或 2040 年。福德仅表示公司对知识产权 “极为放心”，未作进一步评论。未来，赛诺菲需要证明其有能力扩大患者群体，并通过管线协同实现 blockbuster 级销售，以兑现此次高额收购的价值。赛诺菲在罕见病和免疫领域的持续布局，不仅将影响自身的产品组合和收入结构，也可能引发行业内更多的整合活动，推动罕见病治疗领域的创新与发展。参考来源：https://www.biospace.com/deals/sanofi-inks-9-5b-blueprint-buyout-to-expand-rare-disease-portfolio识别微信二维码，添加生物制品圈小编，符合条件者即可加入生物制品微信群！请注明：姓名+研究方向！版权声明本公众号所有转载文章系出于传递更多信息之目的，且明确注明来源和作者，不希望被转载的媒体或个人可与我们联系(cbplib@163.com)，我们将立即进行删除处理。所有文章仅代表作者观点，不代表本站立场。

Taylor Tieden for BioSpace Blueprint has a next-generation systemic mastocytosis treatment, called elenestinib, that Sanofi CEO Paul Hudson told analysts provides an “opportunity to grow through the ‘30s.” Sanofi has struck a $9.5 billion deal to buy Blueprint Medicines for an approved rare disease drug and an early-stage immunology pipeline. The deal, $9.1 billion of which is upfront, will give Sanofi ownership of the systemic mastocytosis therapy Ayvakit. Blueprint posted net product revenues of $479 million in 2024 and, after achieving 61% growth in the first quarter, recently raised its guidance for this year to between $700 million and $720 million. Brian Foard, Sanofi’s head of specialty care, discussed the product’s longer-term prospects on a call with analysts Monday. The launch is “just getting started,” he said. Sanofi’s valuation of Blueprint reflects “extremely low advanced therapy penetration” so far, the executive said, and the company’s belief in the potential of Ayvakit over a long period of time. Leerink analyst Andy Berens expects that Blueprint’s revenue will hit $1.7 billion in 2030. Other observers have higher hopes, putting the consensus estimate at $2.1 billion. Leerink analyst David Risinger said in a note to investors that Sanofi “will need to deliver on its plans to find and treat more patients.” The ability of Blueprint’s pipeline to deliver blockbuster sales over the long term will be critical, too, Risinger said. There are unanswered questions about Ayvakit’s growth trajectory. Analysts asked Foard whether he expects the product to lose exclusivity in 2034 or 2040, two years in which different patents on the drug expire. Foard declined to comment beyond saying the company is “extremely comfortable with the IP.” Blueprint has a next-generation systemic mastocytosis treatment, called elenestinib, that Sanofi CEO Paul Hudson told analysts provides an “opportunity to grow through the ‘30s.” Hudson said elenestinib’s potential is “a big deal.” Elenestinib is one of two Blueprint pipeline programs that Sanofi named as drivers of the deal. The other candidate is BLU-808, a KIT inhibitor that has applications in a range of inflammatory diseases. The deal features contingent value rights tied to development and regulatory milestones for BLU-808. Hitting the milestones will bring the total value of the deal up to $9.5 billion. Hudson said Blueprint’s “established presence among key specialist physicians” was another driver of the deal. Under Hudson, Sanofi has invested in a range of immunology candidates. Blueprint’s commercial infrastructure maps on to the capabilities Sanofi expects to need to launch its immunology drugs. “If you think about where they are today, their call points, uniquely, fit us perfectly,” Foard said. “Think about our pipeline that is being built right now with amlitelimab, with lunsekimig, with TL1A. The call points for those assets are going to be dermatologists, allergists, GIs, which is exactly where Blueprint is today. So, it is going to be a natural build around these individuals.” Sanofi, which is selling a controlling stake in its consumer-healthcare arm, has struck three takeovers this year. The Blueprint deal joins agreements to buy Dren Bio and Vigil Neuroscience for $600 million and $470 million upfront, respectively. The buyouts have added to a pipeline that Hudson said has endured “a bumpy year in terms of some of the readouts.” The Blueprint takeover is at the upper end of the valuation range that Hudson has told investors Sanofi will look at. Yet, the buyout, which Sanofi will finance through cash and new debt, has not sated the company’s appetite. Sanofi CFO François-Xavier Roger told analysts the company retains “significant capacity for further business development, particularly in early-stage medicines and vaccines.”