By Mauro Orru

Sanofi SA said Friday that it intends to start a tender offer for the acquisition of U.S.-based biopharmaceutical company Principia Biopharma Inc.

The French pharmaceutical company said the offer to buy Principia in a deal that values the developer of a promising multiple sclerosis treatment at $3.68 billion is set to expire on Sept. 25.

Sanofi agreed to buy the U.S. company earlier in August.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

August 28, 2020 01:29 ET (05:29 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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