Why did Sanofi move?
Written after the close on
Sanofi fell clearly as investors digested its costly Regeneron expansion. Over the last five trading days Sanofi fell clearly, moving against a slightly higher S&P 500 but in line with a sharply weaker healthcare sector. The likely driver was the expanded Regeneron alliance announced on Thursday: Sanofi pays $1 billion upfront and up to $7 billion more in milestones to co-develop four next-generation antibody drugs meant to succeed the blockbuster anti-inflammatory Dupixent, a deal that adds long-term pipeline but near-term cost. Next to watch is Sanofi's earnings report in late October. The sector-wide pullback in healthcare stocks likely amplified the decline.
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History in plain words, not investment advice.