Sanofi SA announced late Monday that it has decided to terminate its agreement with biotech company Maze Therapeutics Inc. This comes as a result of federal trade regulators opposing the deal due to concerns about competition in the treatment of a rare genetic condition.
“We respectfully disagree with the action taken by the Federal Trade Commission, which not only hinders potential advancements in patient care but also delays progress,” expressed Sanofi. The company further stated that the Maze partnership was established to leverage Sanofi’s resources, knowledge, and expertise in order to expedite the development of a treatment for Pompe disease, a devastating condition.
Earlier in the day, the FTC revealed that it was attempting to block Sanofi’s proposed acquisition of Maze Therapeutics Inc.’s therapy for Pompe disease. The deal, valued at up to $755 million, was seen as a threat to Sanofi’s monopoly in the Pompe disease therapy market.
Despite the setback, Sanofi remains committed to finding innovative solutions for patients suffering from Pompe disease. The company will continue its efforts to address this pressing medical need and improve the lives of those affected.