Sanofi-Aventis will acquire Fovea Pharmaceuticals, a Paris-based biopharma specializing in drugs for ocular diseases, in a deal valued at roughly $538 million. The acquisition is expected to close during the fourth quarter of this year. Separately, Sanofi announced an exclusive worldwide licensing agreement with Boston-based Merrimack Pharmaceuticals for its investigational cancer drug, MM-121. That deal provides Merrimack with an upfront payment of $60 million and an additional $470 million in potential milestone payments and royalties. MM-121 is currently in phase 1 of development.
Takeda announced that it will establish four new sales and marketing subsidiaries in Mexico, Turkey, Sweden and Belgium, serving those countries as well as Norway, Denmark and Luxembourg. The expansion follows the company's new commercial operations in Spain, Portugal, Ireland and Canada, announced earlier this year. Takeda hopes the expansion will help to accelerate global marketing efforts for Actos and other core products, according to a statement.