Sanofi pays Teva $500M to join Merck, Roivant in red-hot bowel disease race

Sanofi is splashing the cash. One day after inking a $175 million vaccine deal, the French drugmaker has splurged another 469 million euros ($500 million) on a Teva program to secure the chance to challenge Merck & Co. and Roivant for an emerging inflammatory bowel disease opportunity.