-
Sanofi SA (NASDAQ: SNY) has agreed to acquire Provention Bio Inc (NASDAQ: PRVB) for $25.00 per share in cash, representing an equity value of approximately $2.9 billion.
-
The transaction adds a type 1 diabetes therapy to Sanofi's core asset portfolio in General Medicines, and further drives its strategic shift toward products with a differentiated profile.
-
In November 2022, the FDA approved Tzield (teplizumab-mzwv) to delay the onset of stage 3 type 1 diabetes in adults and pediatric patients eight years and older with stage 2 type 1 diabetes.
-
The purchase builds on an existing co-promotion agreement with Provention Bio, already delivering Tzield to patients needing this immune-mediated therapy.
-
Tzield is also in late-stage clinical development for pediatric and adolescent patients newly diagnosed with clinical T1D (Stage 3).
-
A Phase 3 trial, PROTECT, is underway, and top-line results are expected in the second half of 2023.
-
Additional opportunities for TZIELD include re-dosing and formulations and new therapeutic indications.
-
Sanofi currently expects to complete the acquisition in the second quarter of 2023.
-
Price Action: PRVB shares are up 257.90% at $23.98 on the last check Monday.
Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.
This article Provention Bio's $2.9B Acquisition - A Strategic Fit For Sanofi originally appeared on Benzinga.com
.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
"fit" - Google News
March 14, 2023 at 12:04AM
https://ift.tt/tHcfo7i
Provention Bio's $2.9B Acquisition - A Strategic Fit For Sanofi - Yahoo Finance
"fit" - Google News
https://ift.tt/ernAQC0
https://ift.tt/kFTOBqI
Bagikan Berita Ini
0 Response to "Provention Bio's $2.9B Acquisition - A Strategic Fit For Sanofi - Yahoo Finance"
Post a Comment