Sanofi goes quantum with Hanmi

In a move to add weekly diabetes treatments to its arsenal, Sanofi (Euronext:SAN; NYSE:SNY) is paying EUR 400 million ($440.6 million) up front for exclusive worldwide rights to the "Quantum Project" portfolio of long-acting products from Hanmi Pharmaceutical Co. Ltd. (KOSDAQ:128940).

Hanmi is eligible for EUR 3.5 billion ($3.86 billion) in milestones related to the three programs.The Korean company also is eligible for double-digit royalties on sales and retains the option to co-commercialize the treatments in China and Korea. ...