Push Admin

France's Sanofi to buy US group Principia Biopharma for $3.68 billion

Article (news)

Agence France-Presse

PARIS - French pharma giant Sanofi said Monday it will buy US group Principia Biopharma for $3.68 billion in a deal that will boost its research and development into autoimmune and allergic diseases.The deal will see Sanofi &quot;acquire all of the outstanding shares of Principia for $100 per share in cash, which represents an aggregate equity value of approximately $3.68 billion&quot;, Sanofi said in a statement.Sanofi had been cooperating with San Francisco-based Principia since 2017, securing a global exclusive licence to develop and market its drug for treating multiple sclerosis and other central nervous system illnesses known as BTK&#x27;168.&quot;Full ownership... removes complexities for this priority development programme and simplifies future commercialisation,&quot; chief executive Paul Hudson said.Beyond diseases of the nervous system, Principia hopes to develop &quot;a whole portfolio&quot; of similar drugs that could target different organ systems in patients suffering from &quot;immune-mediated&quot; diseases after the Sanofi merger, chief executive Martin Babler said.The French company said it aims to complete the acquisition between October and December 2020.<div>© Agence France-Presse </div>

French pharma giant Sanofi said Monday it will buy US group Principia Biopharma for $3.68 billion in a deal that will boost its research and development into autoimmune and allergic diseases.

French pharma giant Sanofi said Monday it will buy US group Principia Biopharma for $3.68 billion in a deal that will boost its research and development into autoimmune and allergic diseases.