Sanofi beats Novo to buy Ablynx for $4.8 billion in biotech M&A boom


French drugmaker Sanofi has agreed to buy Belgian biotech company Ablynx for 3.9 billion euros ($4.8 billion), beating Novo Nordisk and marking its second big deal this month after buying Bioverativ.

The deal is a further sign of accelerating merger and acquisition (M&A) activity in the global biotech sector and comes after Ablynx rejected a 2.6 billion euro offer from Denmark's Novo Nordisk. Sanofi said on Monday it would pay 45 euros per share in cash for Ablynx, a premium of 21 percent over its closing price on Friday - and.

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