PARIS (Reuters) – Sanofi announced Friday the launch of its tender offer to acquire Principia Biopharma, a U.S. biotech company specializing in the development of treatments for autoimmune and allergic diseases, which will strengthen its portfolio in immunology.

The transaction, through a repurchase of all outstanding shares at a price of $100 per share, represents a cash transaction valued at approximately $3.68 billion ('3.1 billion) and is expected to close in the fourth quarter of 2020.

The offer, which closed on August 16, will expire on September 25.

Claude Chendjou