French drug major Sanofi (SNYNF, SNY) Wednesday said it has entered into a definitive merger agreement to buy Kadmon Holdings, Inc. (KDMN), the developer of Rezurock, a recently FDA-approved treatment for chronic graft-versus-host disease.
In the deal, Kadmon shareholders will receive $9.50 per share in cash, which represents a total equity value of approximately $1.9 billion.
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