Sanofi has announced the completion of its acquisition of Provention Bio, a transaction which notably enables the French healthcare group to add the diabetes drug Tzield to its portfolio of strategic products in general medicine.

The tender offer for Provention Bio shares expired on Wednesday evening, and on April 27 Sanofi accepted all shares validly tendered and not withdrawn. Payment for these shares will be made promptly.

Provention Bio shares not tendered to the offer have been converted into a right to receive $25 in cash per share. Effective April 27, all shares of Provention Bio common stock will cease trading on Nasdaq.

Copyright (c) 2023 CercleFinance.com. All rights reserved.