Sanofi to Acquire Synthorx for $2.5 Billion
December 09 2019 - 2:01AM
Dow Jones News
By Kim Richters
Sanofi SA (SAN.FR) said Monday that it will acquire
biotechnology company Synthorx Inc. (THOR) for an aggregated equity
value of around $2.5 billion.
The French pharmaceutical company said it plans to take control
of all outstanding shares of Synthorx 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.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
December 09, 2019 01:46 ET (06:46 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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