Sanofi Completes Principia Acquisition
French drugmaker Sanofi has completed its acquisition of US-based Principia Biopharma for $100 per share in cash. The takeover worth altogether $3.7 billion was sealed following expiration of the tender offer for all of Principia’s shares on Sept. 25.
In announcing the plans last month, Sanofi said the acquisition was aimed at boosting its research and development into auto-immune and allergic diseases. The two companies have been cooperating since 2017, when the Paris-based drugmaker acquired an exclusive global license to develop and market Principia Biopharma BTK’168 drug for treating multiple sclerosis and other central nervous system illnesses.
Along with diseases of the nervous system, Principia hopes to develop an entire portfolio of similar drugs that could target different organ systems in patients suffering from “immune-mediated” diseases, CEO Martin Babler said recently.
Paul Hudson, CEO of Sanofi, said the deal “further strengthens our core areas of autoimmune and allergic diseases, giving us full control of tolebrutinib (SAR442168), as well as additional BTK inhibitors to further develop.“
Author: Dede Williams, Freelance Journalist
