Sanofi completed the acquisition of Provention Bio for $2.9bn.

Sanofi, a French multinational pharmaceutical and healthcare company, completed the acquisition of Provention Bio, a publicly traded biopharmaceutical company focused on intercepting and preventing immune-mediated diseases including type 1 diabetes, for $2.9bn. "The acquisition of Provention Bio builds on Sanofi’s mission to deliver best- and first-in-class medicines and resonates with our purpose of chasing the miracles of science for the benefit of people. By coupling Provention Bio’s transformative innovation with Sanofi’s expertise, we aim to bring life-changing benefits to people at risk of developing Stage 3 type 1 diabetes. Any additional indications, approvals and pipeline assets only serve to further our excitement. Given our existing partnership and complementary work in the diabetes and immunology spaces, we foresee a seamless integration and execution," Olivier Charmeil, Sanofi Executive Vice President, General Medicines.