Sanofi has a $50B biotech buyout budget, with Principia top of the list: report

Still augmenting its R&D and trying to drive innovation internally, French Big Pharma Sanofi is preparing to spend billions on biotechs to help further this cause.

This is according to anonymous “people with knowledge of the matter” talking to Bloomberg, who say the focus is on snapping up biotechs and assets in multiple sclerosis and immune disorders,

Chief among its targets is CNS and immunology biotech Principia Biopharma, with which the pharma already has a partnership. Cue its shares jumping as high as 13% Thursday, July 16, on the rumors. However, it's uncertain whether “the deliberations will lead to a transaction, according to the people,” Bloomberg reports.