By Kim Richters
AFP via Getty Images
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 +0.60% /zigman2/quotes/201967021/composite SNY -1.97% 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.