Sanofi buys Principia Biopharma for 3.11 billion euros

Merger between Sanofi and Principia Biopharma

Merger between Sanofi and Principia Biopharma.

The French pharmaceutical Sanofi has reached a “definitive agreement” to acquire the US laboratory Principia Biopharma for 3.68 billion dollars (3.11 billion euros) in cash, according to the companies, which expect to complete the transaction in the fourth quarter of 2020.

According to the conditions of the operation, which has the unanimous support of the boards of directors of both companies, Sanofi will pay $ 100 in cash for each Principia Biopharma share, which represents a premium of 10% over the closing price of the titles of the company last Friday.

Once the transaction is completed, a Sanofi subsidiary will merge with Principia and all the shares that have not joined the purchase will be converted into collection rights of the same price as the one paid during the offer, which will begin this month.

“This acquisition advances our R&D transformation to accelerate the development of medicines to treat significant patient needs,” said Paul Hudson, CEO of Sanofi.

“The combination with Sanofi will bring substantial resources to expand and accelerate the potential benefits of the therapies,” said Martin Babler, president and CEO of Principia Biopharma.

SoftBank agreed on Tuesday to pay more than 10,000 million dollars to acquire WeWork, doubling its investment and paying close Read more

Microsoft has struck the table when it won the JEDI contract (acronym for Joint Enterprise Defense Infrastructure) tendered by the Read more

Siemens Gamesa has received a conditional order to supply 140 wind turbines of its most powerful model (11 MW) to Read more

A few years ago Boeing was the most important aeronautical company on the planet. being the most important civil constructor Read more

Tesla will begin delivering the first orders of the Model Y, its new SUV compact SUV, in the first quarter Read more

General Motors has announced that it will invest 1,500 million dollars (1,350 million euros) in the new generation of ‘pick-ups’ Read more

Netflix already has 158.3 million subscribers worldwide, demonstrating its strength in the face of increasing competition. However, its biggest advantage Read more

The aircraft manufacturer Boeing (NYSE: BA) suspends the production of its 737 MAX aircraft, after not obtaining this year, as Read more

Navin Shenoy, the vice president of Intel, said in a statement that “this acquisition advances our artificial intelligence strategy, which Read more

The Starliner spacecraft, from the Boeing company, landed successfully this Sunday in New Mexico after it failed on Friday in Read more

Leave a Reply