(Reuters) – France’s Sanofi said on Monday it has entered into a deal to acquire U.S.-based biopharmaceutical company Provention Bio in a transaction worth $2.9 billion.
With the acquisition, the French pharmaceutical group intends to acquire full ownership of an innovative treatment for the delay of stage 3 type 1 diabetes affecting about 65,000 people every year, it said in a statement.
(Reporting by Dina Kartit; Editing by Kim Coghill)