Reuters
3 minute read
Aug 3 (Reuters) - Apple Inc (AAPL.O) and Affirm Holdings Inc s (AFRM.O) PayBright are planning to launch a buy now, pay later program for Apple device purchases in Canada, Bloomberg News reported, allowing people to pay for iPhone, Mac, and iPad over 12 to 24 months.
In the United States, Australia and Europe, buy now, pay later is marketed as an alternative to credit cards. The service has soared in popularity during the pandemic as consumers seek other options to make purchases that are easier on their wallets.
On Monday, Square Inc (SQ.N), the payments firm of Twitter Inc (TWTR.N) co-founder Jack Dorsey, said it would acquire buy now, pay later pioneer Afterpay Ltd (APT.AX) for $29 billion, creating a transactions giant that will battle banks and tech firms in the financial sector s fastest-growing business. read more
Sanofi board discussed deal on Sunday
U.S. biotech company s shares soar more than 70% after report
Financial terms not known
PARIS, Aug 2 (Reuters) - Sanofi (SASY.PA) has offered to buy U.S. biotech company Translate Bio (TBIO.O), two sources familiar with the situation said on Monday, as the French drugmaker bets on next-generation mRNA technology after setbacks in the COVID-19 vaccine race.
Shares in the New York-listed biotech company soared more than 70% to above $50 in extended trading, building on the big gains in the stock as investors have piled in to the sector amid a rush to develop vaccines and treatments to tame the pandemic which has killed 4.3 million and roiled the global economy.
Article content
TOUGH YEAR
Sanofi’s interest comes after a tough year for the French drugmaker after falling behind rivals with less experience in the COVID-19 vaccine race, a major blow to CEO Paul Hudson who joined the company almost two years ago.
Sanofi warned last year its traditional, protein-based COVID-19 jab developed with GlaxoSmithKline showed an insufficient immune response in older people, delaying its launch until toward the end of 2021.
Hudson has also been under increasing pressure to reduce the company’s dependence on its star eczema treatment Dupixent to boost earnings. Earlier this year, it agreed to fill and pack millions of doses of shots made by Pfizer/BioNTech, Johnson & Johnson and Moderna.
Sanofi to buy U.S. mRNA partner Translate Bio in $3.2 billion deal
By Matthias Blamont
Reuters
PARIS (Reuters) -Sanofi has agreed to buy U.S. biotech company Translate Bio in a $3.2 billion deal, as it bets on next-generation mRNA technology after setbacks in the COVID-19 vaccine race, confirming a Reuters exclusive report.
Sanofi said it would acquire all outstanding shares of Translate Bio for $38.00 per share in cash, representing a total equity value of about $3.2 billion for Translate Bio.
The boards of both companies have approved the deal, and the chief executive of Translate Bio and the U.S. company s largest shareholder have backed the takeover offer, Sanofi and Translate Bio said in a joint statement.
Article content
PARIS Sanofi has agreed to buy U.S. biotech company Translate Bio in a $3.2 billion deal, as it bets on next-generation mRNA technology after setbacks in the COVID-19 vaccine race, confirming a Reuters exclusive report.
Sanofi said it would acquire all outstanding shares of Translate Bio for $38.00 per share in cash, representing a total equity value of about $3.2 billion for Translate Bio.
We apologize, but this video has failed to load.
Try refreshing your browser, or Sanofi to buy U.S. mRNA partner Translate Bio in $3.2 bln deal Back to video
The boards of both companies have approved the deal, and the chief executive of Translate Bio and the U.S. company’s largest shareholder have backed the takeover offer, Sanofi and Translate Bio said in a joint statement.