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

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PARIS — French drugmaker Sanofi SA has agreed to buy U.S. biopharmaceutical company Kadmon Holdings 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. (Reporting by Sudip Kar-Gupta; Editing by Christopher Cushing)