Sanofi to Buy Inhibrx for $2.2 Billion in Rare-Disease Push (3)

Sanofi agreed to buy the US biotech Inhibrx Inc. for as much as $2.2 billion, giving the French drugmaker a potential therapy for a genetic disorder that affects the lungs and liver.

The acquisition is the latest in a string of small- and mid-sized deals as Sanofi looks to double down on innovative medicines and reduce its reliance on the blockbuster asthma medicine Dupixent.

Chief Executive Officer Paul Hudson has heralded a new era of cutting-edge research and development at the company, emulating rivals like Novartis AG and Roche Holding AG. The transaction fits with his efforts to bolster ...