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.
Sanofi has agreed to buy US-based Principia Biopharma for $3.68 billion, strengthening its pipeline of treatments for autoimmune disorders. The deal gives the French drugmaker access to Principia’s bruton tyrosine kinase (BTK) inhibitors, which are showing promise in blocking or disrupting the signaling processes that cause inflammation and tissue destruction in autoimmune diseases.
