Sanofi SA said that it will acquire biotechnology company Synthorx Inc. for an aggregated equity value of around $2.5 billion.
The French pharmaceutical company SAN, +1.49% SNY, +1.53% said it plans to take control of all outstanding shares of Synthorx THOR, -0.09% for $68 per share in cash.
The acquisition of Synthorx, which is expected to close in the first quarter next year, will strengthen Sanofi’s existing immuno-oncology portfolio, it said.
The takeover is “aligned with our goal to build our oncology franchise with potentially practice-changing medicines and novel combinations,” Sanofi’s Chief Executive Paul Hudson said.
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