Sanofi Is Looking For Rare Disease Acquisitions, FT Says

Sanofi SA (ADR) SNY is actively looking to enter the rare disease drugs segment through an acquisition.

The Financial Times reported on Sunday that David Meeker, head of Sanofi's Genzyme specialty care business, suggested that rare disease assets represent potential targets as the company is looking to fuel growth through an acquisition.

The report added that Sanofi could be open to paying as much as $20 billion in a potential acquisition. However, the identify of potential targets were not divulged by the company's executives.

Related Link: Sanofi In Talks To Buy PTC Therapeutics

Meeker was quoted as saying that valuation of rare disease related companies "have come down from high levels" and that "there is a certain resetting of valuations."

Meanwhile, Sanofi has hired a former Morgan Stanley banker to head its mergers and acquisition ambitions. Meeker was also quoted as saying that the ex-banker, Alban de La Sabliere, is "very active in evaluation and looking at opportunities."