Italian pharma company Recordati S.p.A agreed to acquire the global rights to Enjaymo (sutimlimab) from Sanofi SA (NASDAQ:SNY) for $825 million as an upfront payment and additional commercial milestone payments of up to $250 million.

Italian pharma group Recordati said on Friday it would buy from Sanofi the global rights to a drug used to treat cold agglutinin disease (CAD), a rare autoimmune disorder, for $825 million, sending both stocks up in early trade.