Pharmaceutical
The French pharmaceutical group Sanofi has to acquire Prinipia Biopharma, an American biotech active in the treatment of autoimmune diseases.
Sanofi explains that this operation will enable it to “strengthen the main areas of R&D in autoimmune and allergic diseases”.
–Archive/Keystone
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Sanofi announced Monday the acquisition for 3.68 billion dollars (3.34 billion francs) of the American biotech Principia Biopharma, which is developing a series of inhibitors to treat autoimmune diseases.
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Sanofi will acquire all of the outstanding Principia shares “at a price of $ 100 per share, which represents a cash transaction valued at approximately $ 3.68 billion (on a fully diluted basis)”, the French laboratory said in a press release, specifying that the operation had been “unanimously approved by the boards of directors of Sanofi and Principia”.
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Sanofi explains that this operation will enable it to “strengthen the main areas of R&D in autoimmune and allergic diseases”.
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Treatment of multiple sclerosis
In 2017, Sanofi entered into a collaboration with Principia, giving it access to an exclusive worldwide license for the development and commercialization of the inhibitor BTK’168 in the treatment of multiple sclerosis and other diseases of the central nervous system.
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“By taking full control” of this product, “we are removing the complexities of this priority development program and simplifying the future commercialization of this product,” said Sanofi CEO Paul Hudson, quoted in the press release.
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The takeover bid is expected to begin later this month, and is expected to be finalized in the fourth quarter of 2020. Sanofi plans to fund this transaction with its available cash.
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(ATS / NXP)
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