Sanofi on verge of $1B-plus deal for arthritis-focused biotech Flexion: source

Fierce Pharma ---------- Sanofi is in talks to buy Flexion Therapeutics, a Boston-area biotech with its lead product now awaiting FDA approval, for more than $1 billion in cash, according to a source close to the deal. Flexion’s board has voted to accept Sanofi’s non-binding offer, with a price in the “mid-30s” per share, the source said. Flexion stock closed Wednesday at $19.68. Flexion’s knee injection for osteoarthritis, Zilretta, would fit right in with Sanofi’s biosurgery division, which markets its own osteoarthritis injectable, Synvisc. And some of Flexion’s staffers know that product well; marketing VP Mark Fraga and medical affairs VP Scott Kelley, M.D., jumped to Flexion last year from jobs handling Synvisc at Sanofi. To learn more click on the picture below to read the article.