France's Sanofi SA to buy US-based Principia Biopharma for $3.7 billion

Sanofi SA is set to buy US-based Principia Biopharma Inc for around $3.7 billion, the companies announced on Monday, marking the French drugmaker's latest acquisition in the US biotech sector. The deal will strengthen Sanofi's research capabilities in areas such as autoimmune and allergic diseases, the companies said.

The merger also seals a record summer for European takeovers of US healthcare targets, coming just two weeks after Germany's Siemens Healthineers made a $16.4 billion swoop on US oncology firm Varian. Sanofi.

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