Sanofi bolsters I-O pipeline with Synthorx acquisition

9 December 2019

French pharma major Sanofi (Euronext: SAN) has entered into a definitive agreement under which it will acquire all of the outstanding shares of US clinical-stage biotech Synthorx (Nasdaq: THOR) for $68 per share in cash.

The $68 per share acquisition price represents a 172% premium to Synthorx’ closing price on December 6, 2019, and represents an aggregate equity value of around $2.5 billion (on a fully diluted basis). The transaction was unanimously approved by both the Sanofi and Synthorx boards of directors. It is expected to close in the first quarter next year.

Sanofi’s shares were down 0.90% at 82.81 euros by mid-morning, while no pre-market activity in Synthorx had yet been noted as this story was published.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK