0710 GMT - Sanofi needs mergers and acquisitions to refill its late-stage drug pipeline, and its recently expanded collaboration with Regeneron Pharmaceuticals means it can shift its focus to dealmaking, Berenberg analysts say in a research note. "Sanofi can now move forward to deploy its [30 billion to 40 billion euros] of balance sheet capacity on business development," the analysts say. Since the drug candidates Sanofi and Regeneron will jointly develop are at an early stage, the French drugmaker has limited pivotal study results on the horizon, Berenberg says. Data on a late-stage trial for frexalimab in multiple sclerosis and a midstage for brivekimig in skin condition hidradenitis suppurativa due in the second half of 2027 are the next updates Berenberg will be watching, the analysts say. Sanofi shares rise 1%.
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