Servier, a global pharmaceutical company, announced that it has entered into an agreement for the acquisition of Agios Pharmaceuticals' oncology business including its commercial, clinical and research-stage oncology portfolio for up to $2 billion, including an upfront payment of $1.8 billion and a potential $200 million in regulatory milestone, plus royalties. The transaction has been approved by both companies' respective boards of directors. Subject to receipt of regulatory clearances and approval by Agios' shareholders, the acquisition is expected to close in Q2 2021.

"The strategic acquisition of Agios' oncology business, including its precision medicine portfolio and pipeline, is aligned with our ambition to become a recognized player in oncology and further supports our commitment to provide innovative treatments to cancer patients with unmet medical needs. It is a key step for the Servier Group as it will significantly strengthen our position in the U.S. and reinforce our R&D capabilities in oncology," stated Olivier Laureau, President of Servier. "We look forward to welcoming the experienced Agios oncology teams to Servier following the closing."