Servier Buys Day One for $2.5B
French pharmaceutical firm Servier has acquired Day One Biopharma in a $2.5 billion deal to bolster its oncology portfolio. The key asset in the acquisition is Ojemda, a targeted therapy for pediatric brain cancer, highlighting the high value placed on specialized cancer treatments in biotech M&A.
The all-cash transaction values Day One at $21.50 per share, a premium of approximately 68% over the company's closing price on March 5, 2026. Servier is funding the acquisition, which is expected to close in the second quarter of 2026, through its existing cash and investments. This purchase is a key step in Servier's "2030 ambition" to become a focused, innovative player in rare cancers. The strategy builds on previous deals, such as the $2 billion acquisition of Agios Pharmaceuticals' oncology portfolio in 2021, which brought in the glioma treatment Voranigo. The centerpiece of the Day One deal is Ojemda (tovorafenib), which received accelerated FDA approval in April 2024. It is the first systemic therapy approved for pediatric low-grade glioma patients with BRAF rearrangements and fusions. The drug has shown strong early commercial traction, generating $155.4 million in net product revenue in 2025. Prior to the acquisition, Day One Biopharmaceuticals was in a high-growth phase but was not yet profitable, reflecting heavy investment in R&D and commercialization efforts. The company had projected Ojemda revenues to reach between $225 million and $250 million in 2026. The deal is structured as a cash tender offer for all issued and outstanding shares of Day One's common stock. Day One's Board of Directors has unanimously recommended that shareholders tender their shares in the offer. The acquisition combines Day One's scientific expertise with Servier's established global commercial infrastructure. This is intended to accelerate the development and expand the reach of Day One's pipeline, which includes other programs for both pediatric and adult cancers.
