France's Sanofi to buy biotech firm Synthorx for $2.5 billion

9 Dec by Vitaliy Dadalyan

France's Sanofi to buy biotech firm Synthorx for $2.5 billion

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France's Sanofi to buy biotech firm Synthorx for $2.5 billionSanofi said on Monday it had agreed to buy California-headquartered biotechnology firm Synthorx in a cash deal worth about $2.5 billion aimed at beefing up the French drugmaker’s pipeline of drugs for cancer and auto-immune disorders. Under the deal, Sanofi has offered to buy all the outstanding shares of Synthorx common stock for $68 per share in cash. “This acquisition … is aligned with our goal to build our oncology franchise with potentially practice-changing medicines and novel combinations,” Sanofi Chief Executive Paul Hudson said in a statement.