Dow Jones Newswires: Sanofi to acquire Synthorx for $2.5 billion

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Sanofi SA said Monday that it will acquire biotechnology company Synthorx Inc. for an aggregated equity value of around $2.5 billion.

The French pharmaceutical company SAN, +0.52% SNY, -0.11%  said it plans to take control of all outstanding shares of Synthorx THOR, +0.20%  for $68 per share in cash.

The acquisition of Synthorx, which is expected to close in the first quarter next year, will strengthen Sanofi’s existing immuno-oncology portfolio, it said.

The takeover is “aligned with our goal to build our oncology franchise with potentially practice-changing medicines and novel combinations,” Sanofi’s Chief Executive Paul Hudson said.