Sanofi snaps up Protein Sciences for $650 million
July 7, 2017
Source: pharmatimes
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Sanofi is to buy private US vaccines biotech Protein Sciences in a deal valued at up to $750 million, in a move to bolster its vaccines portfolio.
Under the terms of the agreement, the French drugmaker will make an initial payment of $650 million, and up to $100 million more on the attainment of certain pre specified milestones.
A key attraction is Protein Science’s Flublok Quadrivalent Influenza Vaccine (QIV), the only recombinant protein-based influenza vaccine to be approved by the US Food and Drug Administration (in October last year).
“The acquisition of Protein Sciences will allow us to broaden our flu portfolio with the addition of a non-egg based vaccine,” said David Loew, Sanofi executive vice president and head of Sanofi Pasteur, Sanofi’s vaccines division.
From the other side of the fence, Manon Cox, president and chief executive of the US biotech, said: As part of Sanofi Pasteur, we expect our Flublok influenza vaccine to benefit from Sanofi Pasteur’s expertise in the field of influenza vaccines.”
The acquisition is expected to close in the third quarter of this year, subject to customary regulatory approvals.
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