Sanofi's sale of Regeneron stake for $11B could set stage for both companies' growth through M&A

More than 16 years and five product launches after closing its first deal with Regeneron, Sanofi has sold its holding of roughly 20% of the biotech's shares for about $11.1 billion. While the French pharma will almost certainly put some of the cash toward M&A, the New York biotech could also take advantage of the decoupling to do the same.

Late Tuesday, Sanofi (Euronext:SAN; NASDAQ:SNY) sold 21.6 million Regeneron shares, retaining just 400,000. Of those divested, 11.8 million were sold at $515 via a registered public offering, and Regeneron Pharmaceuticals Inc. (NASDAQ:REGN) bought 9.8 million for $5 billion...