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U.S.' Regeneron to buy back $5 billion stake held by Sanofi

FILE PHOTO: The logo of Sanofi is seen at the company's research and production centre in Vitry-sur-Seine, France, August 6, 2019. REUTERS/Charles Platiau/File Photo

PARIS (Reuters) - U.S. company Regeneron Pharmaceuticals said it had agreed to repurchase approximately $5 billion of its shares directly from French drugmaker Sanofi.

Sanofi, which holds about 23.2 million Regeneron shares, said separately it intended to sell its equity investment, and that the move would not change ongoing collaboration between the two groups.

Writing by Matthieu Protard; editing by John Stonestreet

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