EARLIER LAST month, Sanofi had agreed to buy US haemophilia specialist Bioverativ for $11.6bn, its biggest deal for seven years and a major play to strengthen its presence in treatments for rare diseases. Picture: BLOOMBERG/CHRIS RATCLIFFE
EARLIER LAST month, Sanofi had agreed to buy US haemophilia specialist Bioverativ for $11.6bn, its biggest deal for seven years and a major play to strengthen its presence in treatments for rare diseases. Picture: BLOOMBERG/CHRIS RATCLIFFE

Sanofi trumps Novo Nordisk

French drugmaker Sanofi has agreed to buy Belgian biotech company Ablynx for €3.9bn ($4.8bn), beating Denmark’s Novo Nordisk. This was its second big takeover in January. Earlier in the month it bought US haemophilia specialist Bioverativ.

The companies say Sanofi will pay €45/share in cash for Ablynx, a premium of 21.2% over the closing stock price on Friday. Ablynx had rejected a lower offer from Novo Nordisk. Reuters

Alibaba, Foxconn put $350m into Chinese e-car start-up

Chinese tech giants Alibaba and Foxconn led a new fundraising round by electric carmaker Xiaopeng Motors, investing ¥2.2bn ($350m) in the start-up as a push toward battery-powered vehicles intensifies. The latest funding puts the total investment in Xiaopeng at ¥5bn, says the carmaker. Other investors include IDG Capital, the company said. Xiaopeng is among the start-ups striving to become China’s Tesla and upend the existing auto sector. Bloomberg

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