(News Bulletin 247) – Sanofi will acquire the outstanding shares of Provention Bio at US$25.00 per share, representing a cash transaction valued at approximately US$2.9 billion.
Provention Bio is a US-based publicly traded biopharmaceutical company specializing in the development of drugs that can prevent and intercept immune-mediated diseases, including type 1 diabetes.
‘ This transaction will enable Sanofi to acquire full ownership of an innovative treatment for type 1 diabetes, the first in its pharmacotherapeutic class, which will enrich its portfolio of drugs in General Medicine and consolidate its strategic orientation in favor of products with a well differentiated. Approved in the United States last year, TZIELD (teplizumab-mzwv) is the first and only medicine indicated to delay the onset of clinical type 1 (or stage 3) diabetes in adults and children at from age eight with stage 2 type 1 diabetes ‘indicates the group.
Sanofi will continue to use its capabilities in diabetes to optimize the transformative potential of TZIELD, globally and in the United States, with the goal of delaying the onset of clinical type 1 diabetes in approximately 65,000 people in whom diabetes is diagnosed every year.
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