Amgen and Alexion Pharmaceuticals are said to have reached an agreement Thursday in a patent battle over Soliris, with the move prompting some analysts to say it could lead to an Alexion takeover, reported Investor's Business Daily.
According to CFRA analyst Kevin Huang, the companies agreed to settle claims related to three US patents protecting Soliris, a drug Amgen had hoped to launch a biosimilar version of in 2022.
The agreement, reportedly posted by the US Patent Trial and Appeal Board, removes "a competitive overhang for Alexion," Huang said.
"We view this settlement as a deck-clearing event that could also make the Alexion story cleaner for an acquirer," said Piper Sandler analyst Christopher Raymond.
Earlier in May, activist investor Elliott Management publicly pressured Alexion to sell itself. Meanwhile, Sanofi is selling a portion of its shares in Regeneron Pharmaceuticals.
Raymond added that "given Elliott Management's involvement and this week's news that Sanofi is monetizing its Regeneron stake, we think this possibility [of Alexion being a takeover target] has to be front of mind."
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