Sanofi to acquire Synthorx for $2.5 billion

By Kim Richters

AFP via Getty Images

The logo of French multinational pharmaceutical company Sanofi is pictured on a screen on December 4, 2017 at the company's Val de Bievre Campus, at its headquarters in Gentilly, near Paris.

Sanofi SA said Monday that it will acquire biotechnology company Synthorx Inc. for an aggregated equity value of around $2.5 billion.

The French pharmaceutical company /zigman2/quotes/206928357/delayed FR:SAN -0.23%   /zigman2/quotes/201967021/composite SNY +1.58%  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.

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