Sanofi to Buy U.S. Autoimmune Drugmaker in $3.4 Billion Deal

Sanofi plans to acquire San Francisco, California-based Principia Biopharma Inc in a deal with an enterprise value of $3.4 billion as the French drugmaker pivots toward innovative therapies to spur growth.The all-cash deal will see Sanofi taking full control of the American company which focuses on treatments for multiple sclerosis and a range of autoimmune disorders, the company said in a statement Monday. Bloomberg reported last month that…