Sanofi is examining potential acquisitions of U.S. biotechnology companies including Principia Biopharma, as the drugmaker looks to expand focus on clinical areas such as multiple sclerosis and immune disorders, says Bloomberg sources.
Citing unidentified sources, Bloomberg reported that Sanofi is working with advisors on possible deals. Principia Biopharma is a likely target. Sanofi already has a partnership with Principia to develop a treatment for central nervous system diseases.
Principia's most advanced drug candidate is a BTK inhibitor called rilzabrutinib, being evaluated for use as treatment for three different immune mediated diseases.
Bloomberg Intelligence estimates that Sanofi has as much as $50 billion to spend on acquisitions, following the disposal of its stake in Regeneron Pharmaceuticals in May.
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