Sanofi announced the acquisition of Principia Biopharma in a deal valued at about $3.68 billion as the French company continues to transform its R&D division to more heavily emphasize oncology and other lucrative programs.

Sanofi is rumored to have a $50 billion budget for mergers and acquisitions and is taking a look at U.S.-based biotech companies, including South San Francisco-based Principia Biopharma.

Sanofi’s investigational Bruton’s tyrosine kinase inhibitor SAR442168 hit the mark in a mid-stage multiple sclerosis trial.

The U.S. Food and Drug Administration approved Imbruvica (ibrutinib) in combination with Rituxan (rituximab) for chronic lymphocytic leukemia or small lymphocytic lymphoma patients who are new to therapy.

Biogen successfully fended off a patent challenge from generic company Mylan over the multiple sclerosis (MS) drug Tecfidera.

A late-stage trial failed to show that BeiGene Ltd.’s cancer treatment Brukinsa was superior to Imbruvica, a rival drug from Johnson & Johnson and AbbVie Inc., for treating WM.

AstraZeneca’s Calquence (acalabrutinib) hit the mark in a Phase III trial of previously treated patients with chronic lymphocytic leukemia (CLL).

AbbVie Inc.’s blockbuster cancer treatment Imbruvica in combination with chemotherapy agents failed to meet the main goal in a late-stage study of patients with a form of pancreatic cancer.

The Janssen Pharmaceutical Companies of J&J announced the U.S. FDA approval of Imbruvica (ibrutinib) in combination with rituximab for the treatment of Waldenström’s macroglobulinemia.

South San Francisco-based Principia Biopharma is looking to become a publicly traded company and is aiming for a $86 million initial public offering.