In a mutually agreed set of stock transactions, Sanofi will offload most of its 20.6% stake in Regeneron Pharmaceuticals Inc. while the US pharma will buy much of it back as part of CEO Paul Hudson’s plan to generate cash and re-vamp the French drug maker. Both said the co-ordinated equity exercise would not hurt their successful and lucrative drug development partnership.
The two companies have had a research and marketing partnership since 2003, which led Sanofi to build up an equity...





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