French group Sanofi to buy U.S. firm Principia Biopharma for $3.7 billion

10Views

August 17, 2020

PARIS French healthcare company Sanofi SA has agreed to buy U.S. company Principia Biopharma Inc for around $3.7 billion, the companies said on Monday, strengthening Sanofi’s presence in research and development (R&D) areas.

Sanofi will buy the outstanding shares of Principia for $100 per share in cash, according to the joint statement, representing an aggregate equity value of around $3.68 billion on a fully diluted basis and a premium of 10% to Principia Biopharma’s stock closing of $90.74 on Aug. 14.

Sanofi said the acquisition of Principia Biopharma, which develops therapies for serious immune diseases, would strengthen its research capabilities in areas such as 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,” said Sanofi Chief Executive Officer Paul Hudson.

Sanofi said it expected to complete the acquisition of Principia Biopharma in the fourth quarter of 2020.

“The merger will provide global resources to get these novel therapies to patients faster,” said Martin Babler, president and chief executive officer at Principia Biopharma.

Also Watch

Facebook Politics: Rahul Slams BJP For ‘Influencing Electorate’; BJP Hits Back With Fake News Charge

The acquisition of Principia Biopharma marks the latest large-scale takeover of rivals by Sanofi, following Sanofi’s 2018 takeover of U.S. haemophilia treatment specialist Bioverativ for $11.6 billion, and its purchase of biotechnology company Synthorx in December 2019 for around $2.5 billion.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Array
(
[videos] => Array
(
[0] => Array
(
[id] => 5f3a1c69046bae25c91df2dd
[youtube_id] => yKdbRNmDiOY
French group Sanofi to buy U.S. firm Principia Biopharma for $3.7 billion => Facebook Politics: Rahul Slams BJP For ‘Influencing Electorate’; BJP Hits Back With Fake News Charge
)

[1] => Array
(
[id] => 5f3a1999a07a3a25bbc20973
[youtube_id] => iYP9AfkYHVY
French group Sanofi to buy U.S. firm Principia Biopharma for $3.7 billion => 1 Year Wait Ends, 4G Services Restored In 2 J&K Districts, Residents Welcome Move | CNN News18
)

)

[query] => https://pubstack.nw18.com/pubsync/v1/api/videos/recommended?source=n18english&channels=5d95e6c378c2f2492e2148a2,5d95e6c278c2f2492e214884,5d96f74de3f5f312274ca307&categories=5d95e6d7340a9e4981b2e10a&publish_min=2020-08-14T11:28:03.000Z&publish_max=2020-08-17T11:28:03.000Z&sort_by=date-relevance&order_by=0&limit=2
)

French group Sanofi to buy U.S. firm Principia Biopharma for $3.7 billion

Also Watch

Speak Your Mind

LEAVE A REPLY Cancel reply

Get in Touch

Recommend for You

Oh hi there It’s nice to meet you.

Subscribe and receive our weekly newsletter packed with awesome articles that really matters to you!

You might also like

EDITOR PICKS

POPULAR POSTS

POPULAR CATEGORY

About Us

Follow Us

Support Us & Be a Patreon

Add QNewsHub to your Homescreen!

Oh hi there
It’s nice to meet you.