Sanofi SA
SAN,
said late Monday it will scuttle an agreement with biotech Maze Therapeutics Inc. after federal trade regulators sought to block it, saying the deal would eliminate competition for the treatment of a rare genetic condition. “We respectfully disagree with the action by the [Federal Trade Commission] which also delays potential advancements that could impact the lives of patients,” Sanofi said. “The Maze partnership was designed to apply Sanofi’s resources, knowledge, and expertise to accelerate the development” of a treatment for Pompe disease, a “devastating condition,” the company said. Earlier Monday, the FTC said that it was seeking to block Sanofi’s plan to buy Maze Therapeutics Inc.’s therapy in development for treatment of Pompe because the deal, valued at up to $755 million, “would eliminate a nascent competitor poised to challenge Sanofi’s monopoly in the Pompe disease therapy market.”
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