(Bloomberg) — Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.French pharma giant Sanofi agreed to buy Synthorx Inc. for $2.5 billion, more than double the U.S. biotech company’s last market price, accelerating its push into the field of cancer under new Chief Executive Officer Paul Hudson.Sanofi will pay $68 a share in cash for Synthorx, the companies said Monday. Shares of the unprofitable San Diego-based company closed at $25.03 Friday, having surged 40% last week.The deal underscores the Paris-based drugmaker’s efforts to build its portfolio of innovative therapies in the fast-growing …read more
Source:: Yahoo Finance
