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Sanofi buys Provention Bio in $2.9B deal

Provention Bio will be acquired by Sanofi for $2.9 billion, granting the company access to Tzield, or teplizumab-mzwv, an FDA-approved prevention therapy for type 1 diabetes, for which they already have a co-promotion deal, as well as some assets for immune-mediated diseases that are in the early drug development phase. As part of the deal, Sanofi will purchase all of Provention Bio's outstanding shares in cash at $25 per share. PMLive (UK) (3/13)

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