Sanofi to Acquire US Company Principia Biopharma for $3.68 Billion -- Update
17 Août 2020 - 9:25AM
Dow Jones News
--Sanofi will acquire Principia Biopharma for an enterprise
value of about $3.36 billion
--The move will strengthen Sanofi's R&D areas of autoimmune
and allergic diseases
--The deal is expected to close in the fourth quarter
By Cecilia Butini
Sanofi SA said Monday that it has agreed to buy U.S.-based
biopharmaceutical company Principia Biopharma Inc. for an equity
value of roughly $3.68 billion, in a move to bolster its research
and development.
Under the transaction--unanimously approved by the board of
directors of both companies--Sanofi will acquire all of Principia's
outstanding shares for $100 a share in cash in a tender offer set
to start later this month, the French pharmaceutical company said.
The acquisition represents an enterprise value of about $3.36
billion, Sanofi said.
Principia Biopharma's focus includes developing treatments for
immune-mediated diseases, Sanofi said. The acquisition will
strengthen Sanofi's core R&D areas of autoimmune and allergic
diseases.
"This acquisition advances our ongoing R&D transformation to
accelerate development of the most promising medicines that will
address significant patient needs," Sanofi Chief Executive Paul
Hudson said.
The company said the deal will allow it to fully control the
brain-penetrant BTK inhibitor SAR442168, which is used in the
treatment of multiple sclerosis and which is currently licensed to
Sanofi.
Sanofi said full ownership of the inhibitor "removes
complexities" in the development program and will simplify
commercialization.
Sanofi plans to finance the transaction with cash on hand, it
said. The deal is expected to close in the fourth quarter.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
August 17, 2020 03:10 ET (07:10 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Principia Biopharma (NASDAQ:PRNB)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024
Principia Biopharma (NASDAQ:PRNB)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024