Sanofi: to acquire Provention Bio in the US
(CercleFinance.com) - Sanofi will acquire the outstanding shares of Provention Bio at $25 per share, representing a cash transaction worth about $2.
9bn.
Provention Bio is a publicly-traded US biopharmaceutical company that is focused on developing drugs that prevent and intercept immune-mediated diseases, including type 1 diabetes.
"This transaction will allow Sanofi to acquire full ownership of a novel, first-in-class treatment for type 1 diabetes that will enhance its portfolio of drugs in General Medicine and strengthen its strategic focus on products with a well differentiated profile. Approved in the U.S. last year, TZIELD (teplizumab-mzwv) is the first and only drug indicated to delay the onset of clinical (or stage 3) type 1 diabetes in adults and children aged eight years and older with stage 2 type 1 diabetes," the company said.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
9bn.
Provention Bio is a publicly-traded US biopharmaceutical company that is focused on developing drugs that prevent and intercept immune-mediated diseases, including type 1 diabetes.
"This transaction will allow Sanofi to acquire full ownership of a novel, first-in-class treatment for type 1 diabetes that will enhance its portfolio of drugs in General Medicine and strengthen its strategic focus on products with a well differentiated profile. Approved in the U.S. last year, TZIELD (teplizumab-mzwv) is the first and only drug indicated to delay the onset of clinical (or stage 3) type 1 diabetes in adults and children aged eight years and older with stage 2 type 1 diabetes," the company said.
Copyright (c) 2023 CercleFinance.com. All rights reserved.