Aside from price hikes on their products, pharmaceutical companies have two levers they can pull to potentially juice their profit growth: acquisitions as well as higher research and development spending.

Sanofi (NASDAQ: SNY) recently opted for the former strategy to strengthen its business. In late April, the company completed its acquisition of Provention Bio for $2.9 billion in cash. This raises the following questions: Was the deal a savvy play by Sanofi? And could it be enough to move the needle for the company?

Let's dig into the primary drug, Tzield, that Sanofi picked up from the deal and look at the type 1 diabetes market to find the answers. 

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Source Fool.com