France’s Sanofi to buy U.S. biopharma firm Kadmon in $1.9 billion deal By Reuters

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© Reuters. FILE PHOTO: The logo of Sanofi is seen at the company’s headquarters in Paris, France, April 24, 2020. REUTERS/Charles Platiau

PARIS (Reuters) – French drugmaker Sanofi (NASDAQ:) SA has agreed to buy U.S. biopharmaceutical company Kadmon Holdings (NASDAQ:) Inc in a $1.9 billion deal, the companies said on Wednesday.

Sanofi said it has offered $9.50 per share in cash for Kadmon, representing a total equity value of approximately $1.9 billion on a fully diluted basis, and that both companies’ boards unanimously approved the transaction.

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