Agios to sell oncology business for up to $2 billion plus royalties
Shares of the Cambridge, Mass, U SA-based Agios Pharmaceuticals (Nasdaq: AGIO) closed up more than 28% at $42.62 yesterday, in reaction to the news that it is selling its oncology business, aiming to focus on genetically-defined diseases.
Agios has entered into a definitive agreement to sell its commercial, clinical and research-stage oncology portfolio to French independently-owned drug major Servier, after which it will move forward with a singular focus on accelerating and expanding its genetically-defined disease portfolio, including the mitapivat clinical programs and a robust pipeline of therapeutic candidates.
Terms of the transaction
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