Deals
Sanofi to Buy U.S. Biotech Firm for $2.5 Billion in Cancer Push
- Bid is more than double target’s closing share price on Friday
- Sanofi’s new CEO is accelerating drugmaker’s drive into cancer
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French pharma giant Sanofi agreed to buy U.S. biotech company Synthorx Inc. for $2.5 billion, almost triple its market value, accelerating a push into cancer under new Chief Executive Officer Paul Hudson.