(Bloomberg) — Sanofi plans to acquire San Francisco, California-based Principia Biopharma Inc in a deal with an enterprise value of $3.4 billion as the French drugmaker pivots toward innovative therapies to spur growth.The all-cash deal will see Sanofi taking full control of the American company which focuses on treatments for multiple sclerosis and a range of autoimmune disorders, the company said in a statement Monday. Bloomberg reported last month that Sanofi is studying potential acquisitions of U.S. biotechnology firms, including Principia.Sanofi will pay $100 per share, according to the statement, representing a 10% premium over the Friday closing price of …read more
Source:: Yahoo Finance
