Sanofi said Sept. 8 that it will acquire New York City-based drugmaker Kadmon for $1.9 billion.
Under the deal, which has already been approved unanimously by both companies' boards, Sanofi will gain Kadmon's drug Rezurock, which was approved in July to treat chronic graft-versus-host disease in both adults and adolescents.
Kadmon focuses on developing drugs for diseases with significant unmet medical needs.
"By leveraging Sanofi's global resources and long-standing expertise in developing and commercializing innovative medicines, Rezurock is now well positioned for global accessibility, faster," Harlan Waksal, MD, Kadmon's president and CEO said in a news release.
Sanofi said it expects the deal to close in the fourth quarter of this year.
Read the full news release here.