(Reuters) – Sanofi SA said on Monday it would sell its stake in Regeneron Pharmaceuticals Inc, but would not change its ongoing collaboration.

Sanofi, which owns about 23.2 million shares of Regeneron’s common stock or about 20.6% stake, said Regeneron will repurchase $5 billion of its stock from the French drugmaker.

Sanofi originally purchased a shareholding in Regeneron in 2004.

 

Reporting by Nivedita Balu in Bengaluru, Editing by Franklin Paul

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