Sanofi to Buy Vaccine Company Firm Protein Sciences
11 July 2017 - 4:04PM
Dow Jones News
PARIS--French drug company Sanofi SA (SNY) said Tuesday it would
buy vaccines biotechnology firm Protein Sciences for an up-front
payment of $650 million.
Sanofi said it would pay up to another $100 million if the
influenza vaccine specialist achieves certain milestones.
Protein Sciences received approval from the Food and Drug
Administration in October for the protein-based influenza vaccine
Flublock Quadrivalent influenza vaccine.
With the vaccine, Sanofi adds a non-egg-based vaccine to its flu
portfolio, the French company said.
The acquisition has been approved unanimously by the board of
Protein Sciences and is expected to close at the end of the third
quarter.
-Write to William Horobin at william.horoibin@wsj.com
(END) Dow Jones Newswires
July 11, 2017 01:49 ET (05:49 GMT)
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