Mubasher: The French pharma firm Sanofi has reached an agreement to acquire US-based Principia Biopharma Inc. for $3.68 billion.

The all-cash transaction will allow the Paris-based firm to control Principia, which focuses on treatments for autoimmune and allergic diseases, such as multiple sclerosis (MS), according to a statement on Monday.

“This acquisition advances our ongoing R&D transformation to accelerate development of the most promising medicines,” Sanofi’s CEO, Paul Hudson, said.

“Principia’s Bruton tyrosine kinase (BTK) inhibitors add to Sanofi’s efforts to accelerate and build a portfolio of the next generation of transformative treatments for autoimmune diseases.”

Under the deal, Sanofi will pay $100 per share in cash for the US-based firm.