France’s pharmaceutical company Sanofi will buy biotech company Synthorx.
Sanofi will pay $68 cash a share, or $2.5 billion for the acquisition. Synthorx is focused on treating cancer and autoimmune disorders.
The deal, expected to close in the first quarter next year, is expected to boost Sanofi’s immuno-oncology portfolio, as indicated by the company.
In a separate announcement, Sanofi revealed that its Sanofi Pasteur global vaccines unit entered a $226 million collaboration with the U.S. Department of Health and Human Services, to increase the company’s domestic pandemic influenza vaccine production capabilities at its Swiftwater, Pa., plant.