SNYNF - Principia Bought By Sanofi And Other News: The Good Bad And Ugly Of Biopharma
Sanofi agrees to acquire Principia Bio for $3.68 billion
Sanofi (SNY) announced that it has agree to buy Principia Biopharma Inc. (PRNB) for $3.68 billion. The transaction has been unanimously approved by the Boards of Directors of both companies. Sanofi believes that the acquisition will allow it to boost its portfolio in different markets, while bringing overall diversification to its product line.
The deal involves Sanofi purchasing all the outstanding shares of Principia for $100 apiece in cash. On a fully diluted basis, Principia has nearly $3.68 billion worth of stock.