Sanofi’s MS partner Principia Biopharma (EV of $2.4bn) has been in the headlines as a potential takeover target. Given the French pharma’s swelling war chest and the strategic vision of the CEO, such rumours could have legs. In an attempt to increase its focus on innovative drugs, Sanofi has also started the divestment (through IPO) procedure of the world’s second-largest API company (valued at $2bn).
