Sanofi spends $9bn on a new growth Blueprint

Blueprint Medicines has bucked the biotech trend with a successful solo product launch, and was rewarded on Monday by a $9.1bn buyout by Sanofi. But, while Blueprint’s systemic mastocytosis drug Ayvakit has posted solid sales growth so far, the question is whether it can make enough to justify the hefty price tag; the deal also includes a non-tradeable contingent value right that could take the total value up to $9.5bn. In May Blueprint forecast that Ayvakit would make $2bn per year by 2030, and that its broader systemic mastocytosis franchise could peak at $4bn. It has a long way to go, with Ayvakit revenues hitting $479m in 2024. Blueprint also has a next-gen KIT inhibitor, elenestinib, in the phase 2/3 Harbor trial, but there have been questions about how the company might differentiate the new project, and whether it could cannibalise Ayvakit. Blueprint has been moving away from its targeted cancer roots for a while, and in January deprioritised a CDK2 inhibitor, BLU-222; at the time, the group said it was looking for partners, but the asset wasn't mentioned in Monday's press release. Blueprint’s erstwhile KIT inhibitor rival, Deciphera, was acquired by Ono for $2.4bn last year.