Sanofi Abandons Deal for Rare Disease Drug Amid FTC’s Monopoly Concerns

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Sanofi is backing out of a deal to license Maze Therapeutics’ experimental drug for Pompe disease after the Federal Trade Commission accused the transaction of being anti-competitive. The FTC claimed that the deal was an attempt by Sanofi to eliminate a smaller competitor in the market. The complaint alleged that the deal would contribute to Sanofi’s monopoly in Pompe, violating the anti-monopoly provisions of the Sherman Act. With Sanofi pulling out, the development of Maze’s drug candidate is in limbo. Despite Sanofi’s reasoning, the FTC scheduled an evidentiary hearing for May 2024. The market for biotech IPOs will remain mostly closed, leaving Maze to figure out how to finance the development of its future drugs.

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