Regeneron, a biotechnology company, agreed to acquire a stake in Libtayo, a prescription medicine, from Sanofi, a French multinational pharmaceutical company, for $1.1bn. "This strategic acquisition is a major step towards Regeneron's goal of becoming a global oncology leader, centered on Libtayo as an important choice in settings where PD-1 inhibitors can be used as monotherapy and, excitingly, in potential new combinations with our differentiated and diverse pipeline of oncology assets. In 2021, Libtayo was approved for two new monotherapy indications in the US and EU and global net product sales increased 32% year-over-year, providing a strong foundation for our multi-faceted oncology strategy and helping to maximize the potential value of our pipeline," Leonard S. Schleifer, Regeneron President and CEO.