Sanofi (SNY) and Cheplapharm have announced a strategic partnership that will see the French pharmaceutical giant transfer 20 mature medicines to the German company.
As part of the agreement, Cheplapharm will also take on three of Sanofi’s manufacturing sites located across the world.
In return for the portfolio and sites, Sanofi will receive a 26.4% equity stake in the privately held, family-owned Cheplapharm business.
The two companies have an existing relationship dating back to 2014, and this latest deal represents a significant deepening of that commercial partnership.
Among the medicines being transferred is Lovenox/Clexane, the widely used blood-thinning drug known generically as enoxaparin, with the exception of sales in the United States market.
The commercial transfer of the medicine portfolio is planned to begin in the first quarter of 2027, with the handover of manufacturing sites to follow shortly after.
Full completion of the transaction is expected by the third quarter of 2027, subject to regulatory approvals, employee consultations, and other standard closing conditions.
The deal reflects a broader belief shared by both companies that mature medicines and innovative medicines require fundamentally different operating models to thrive.
Sanofi has been under mounting pressure to reduce its reliance on Dupixent, its blockbuster treatment for skin and asthma conditions, which faces potential biosimilar competition from 2031 onwards.
The company recently suffered a setback when it was forced to halt a phase 3 autoimmune trial early due to futility, adding to a string of mixed clinical results that have complicated efforts to diversify its pipeline.
Sanofi’s board has been explicit about the mission it has set for the company’s leadership, calling for “increased rigor to the implementation of Sanofi’s strategy” and a push to “strengthen the productivity, governance and innovation capacity of R&D.”
Late-stage acquisitions in high-growth therapeutic areas, with rare diseases specifically identified as a priority, have been flagged as a likely avenue for future investment.
Cheplapharm, which is headquartered in Germany and specialises in well-established originator medicines, said the partnership represents an important step in its own strategic growth plans.
Sanofi confirmed the proposed transaction is not expected to have any impact on its financial guidance for 2026, with further financial details to be provided at a later stage.