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France's Sanofi SA to buy US-based Principia Biopharma for $3.7 billion

The deal will strengthen Sanofi's research capabilities in areas such as autoimmune and allergic diseases, the companies said

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Sanofi said it expected to complete the acquisition of the .. firm, which is developing treatments for multiple sclerosis among other projects, in the fourth quarter of 2020.

Sudip Kar-Gupta | Reuters Paris

3 min read Last Updated : Aug 18 2020 | 12:59 AM IST

Sanofi SA is set to buy US-based Principia Biopharma Inc for around $3.7 billion, the companies announced on Monday, marking the French drugmaker's latest acquisition in the US biotech sector.

The deal will strengthen Sanofi's research capabilities in areas such as autoimmune and allergic diseases, the companies said.

The merger also seals a record summer for European takeovers of US healthcare targets, coming just two weeks after Germany's Siemens Healthineers made a $16.4 billion swoop on US oncology firm Varian.

Sanofi is set to buy the outstanding shares of Principia for $100 per share in cash, representing an aggregate equity

Topics : Sanofi SA to buy US drugmaker Pharma Companies Sanofi