Strategic M&A: Sanofi Buys Principia Biopharma For $3.7bn
Removes Sanofi Royalty Payments on Brain-Penetrant SAR442168
Sanofi is paying for $3.68bn cash for Principia to get the US biotech’s drug development platform and nascent pipeline, including a brain-penetrant BTK inhibitor in Phase III for multiple sclerosis.
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Sanofi R&D head John Reed says the company has kept 95% of patients on its nearly 400 clinical trials, started 59 studies, and benefited from its in-house drug supply management.
The French drugmaker's follow up to Myozyme – avalglucosidase alfa – is in line for a potential US approval by May next year after the US FDA agreed to a speedy review of the enzyme replacement therapy, unlike its European counterparts.
During Q3 biopharmas reached $41.7bn in merger and acquisition value and drew in $44.4bn in potential deal value from alliances. Device company M&A values reached $17.9bn while in vitro diagnostic firms and research tools players completed M&A activity that totaled $8.2bn.