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Drug Discovery and Development

Sanofi completes Translate Bio acquisition

Paris-based Sanofi previously pegged the size of the deal at $3.2 billion.

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SanofiSanofi (NSDQ:SNY) announced today that it has completed the purchase of its mRNA partner Translate Bio.

The previously announced deal, according to Sanofi, accelerates the French pharma giant’s efforts to develop transformative vaccines and therapies using mRNA technology.

The deal comes during a year in which mRNA-based Moderna (NSDQ:MRNA) and Pfizer-BioNTech (NYSE:PFE/NSDQ:BNTX) COVID-19 vaccines are generating tens of billions of dollars.

Sanofi generated $41 billion in revenue last year.

As of today, Translate Bio is now an indirect, wholly-owned subsidiary of Sanofi. All Translate Bio shares not validly tendered in the tender offer have been converted into the right to receive the same $38 per share in cash.

 

Filed Under: clinical trials, Drug Discovery, Infectious Disease, Oncology
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About The Author

Chris Newmarker

Chris Newmarker is the executive editor of WTWH Media life science's news websites and publications including MassDevice, Medical Design & Outsourcing and more. A professional journalist of 18 years, he is a veteran of UBM (now Informa) and The Associated Press whose career has taken him from Ohio to Virginia, New Jersey and, most recently, Minnesota. He’s covered a wide variety of subjects, but his focus over the past decade has been business and technology. He holds bachelor’s degrees in journalism and political science from Ohio State University. Connect with him on LinkedIn or email at cnewmarker@wtwhmedia.com.

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