By Cecilia ButiniSanofi SA said Monday that it entered into a definitive agreement for the acquisition of U.S.-based biopharmaceutical company Principia Biopharma Inc. for a total enterprise value of roughly $3.36 billion. "Following the successful completion of the tender offer, a wholly owned subsidiary of Sanofi will merge with Principia and the outstanding Principia shares not tendered in the tender offer will be converted into the right to receive the same $100 per share in cash paid in the tender offer," Sanofi said. Principia Biopharma's focus include develping treatments for immune-mediated diseases, Sanofi said. Write to Cecilia Butini at cecilia.butini@wsj.comCorrections & AmplificationsThis article was corrected at 0610 GMT to reflect that Sanofi has agreed to buy Principia Biopharma Inc. for a total enterprise value of roughly $3.36 billion. The original version of this article incorrectly stated that Sanofi will acquire Principia Biopharma Inc. for a total enterprise value of roughly $3.68 billion.

Source: Wall Street Journal August 17, 2020 05:37 UTC