Sanofi To Buy Principia Biopharma at $ 3.7 Billion

Sanofi To Buy Principia Biopharma at $ 3.7 Billion

In a turn of events on Monday, Sanofi, the French healthcare firm is buying Principia Biopharma (the US company) for a whopping $3.7 billion. The step would enhance the presence of Sanofi in the research and development domain.

In a statement, the French company said that it was looking forward to spending $100 per share to buy all outstanding stocks of Principia Biopharma. That would all be a cash transaction, and on a fully diluted basis, the total equity would amount to approximately $3.68 billion. 

Chief executive of Sanofi, Paul Hudson, noted that the acquisition was related to accelerating the development of the company. The transformation would help in addressing the needs of patients significantly. 

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