Following Sanofi’s decision to terminate its proposed acquisition of an exclusive license to Maze Therapeutics Inc.’s developmental drug to treat Pompe disease, the Federal Trade Commission moved to dismiss its case challenging the transaction. Bureau of Competition Acting Deputy Director Nate Soderstrom issued the following statement:
“Sanofi’s decision not to pursue this anticompetitive transaction is a big win for patients and an important victory for the FTC. The proposed deal would have allowed Sanofi to maintain its monopoly power by eliminating nascent competition, in turn reducing innovation for lifesaving, essential care. The deal also would have enabled Sanofi to continue charging patients monopoly prices of over $750,000 for an annual course of treatment for its Pompe therapies.
Now, with this transaction off the table, Sanofi and Maze can continue to compete on the merits, and both can work to offer patients suffering from this debilitating disease better treatment at affordable prices. This continued incentive to innovate will give patients and their doctors better health care alternatives and ultimately reduce patients’ treatment burden.
The FTC will not hesitate to take action in enforcing the antitrust laws to protect patients. I would like to congratulate and thank all of our incredibly talented staff who worked on this matter. This result would not have been possible without the exceptional skill, hard work, and dedication of staff to the FTC’s mission.”
On December 11, 2023, the FTC sued to block Sanofi’s acquisition of an exclusive license to Maze’s Phase 2-ready developmental drug—a glycogen synthase 1 inhibitor called MZE001— alleging the deal would eliminate a nascent competitor poised to challenge Sanofi’s monopoly in the Pompe disease therapy market. After the FTC issued an administrative complaint and authorized a lawsuit in federal court, Sanofi announced it would terminate its agreement with Maze. The FTC then moved to dismiss its federal court and administrative challenge on December 13, 2023.
Link for original Article : https://www.ftc.gov/news-events/news/press-releases/2023/12/statement-regarding-termination-sanofis-proposed-acquisition-maze-therapeutics-pompe-disease-drug
