Sanofi to Acquire US Company Principia Biopharma for $3.68 Billion
17 Agosto 2020 - 8:06AM
Dow Jones News
By Cecilia Butini
Sanofi SA said Monday that it entered into a definitive
agreement for the acquisition of U.S.-based biopharmaceutical
company Principia Biopharma Inc. for a total enterprise value of
roughly $3.68 billion.
Under the transaction--which was unanimously approved by the
board of directors of both companies--Sanofi plans to acquire all
of Principia's outstanding shares for $100 a share in cash through
a tender offer that should start later this month, the French
pharmaceutical company said.
"Following the successful completion of the tender offer, a
wholly owned subsidiary of Sanofi will merge with Principia and the
outstanding Principia shares not tendered in the tender offer will
be converted into the right to receive the same $100 per share in
cash paid in the tender offer," Sanofi said.
The deal is expected to close during the fourth quarter of this
year, it said.
Principia Biopharma's focus include develping treatments for
immune-mediated diseases, Sanofi said.
Sanofi said the acquisition will strengthen research and
development in areas such as autoimmune and allergic diseases.
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.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
August 17, 2020 01:51 ET (05:51 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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