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Sanofi Goes All In For Type 1 Diabetes With Provention Buy

Tzield Was Approved In US In November

 
• By Kevin Grogan

Sanofi is taking full control of the recently approved type 1 diabetes prevention therapy Tzield by splashing out $2.9bn to acquire partner Provention.

Sanofi
• Source: Sanofi

Just five months after bagging US rights to Provention Bio, Inc.'s type 1 diabetes therapy Tzield, Sanofi has decided it wants to buy the whole company and is prepared to pay a huge premium to do so.

The French drugmaker has agreed to acquire Provention for $25.00 per share in cash, or $2.9bn. This represents a premium of more than 270% on the New Jersey-based firm's closing price of $6

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