By Michael Calia
Unilife Corp. (UNIS) said it reached a long-term deal to supply
syringes to Sanofi (SNY), sending its shares up 22% in premarket
trading to $3.74.
The contract, whose period can extend to 2024, could generate up
to $15 million in milestone-based payments from Sanofi, with $5
million of the payments expected this year.
The deal grants Sanofi the exclusive use of the Unifill Finesse
syringe for antithrombotic, or anticlotting, drugs Lovenox and
Clexane. After a four-year market-entry period, exclusivity will
continue provided Sanofi buys 150 million units of Unifill syringes
each year, Unilife said.
Likewise, Unilife can supply the syringes to other customers,
just not for antithrombotic treatments.
Through Friday's close, Unilife's stock is up 35% this year.
Write to Michael Calia at michael.calia@wsj.com
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