Sanofi links up with Hanmi for portfolio of long-acting diabetes treatments

French pharma major Sanofi (Euronext: SAN) has entered into a worldwide license agreement with South Korea’s Hanmi Pharmaceutical to develop a portfolio of experimental, long-acting diabetes treatments.

Under the terms of the accord, Hanmi will receive an upfront payment of 400 million euros ($434.4 million) and is eligible for up to 3.5 billion euros in development, registration and sales milestones, as well as double-digit royalties on net sales. The agreement is subject to customary closing conditions including review under the Hart-Scott-Rodino Antitrust Improvements Act.

Deal includes late-stage agent efpeglenatide