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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 Translate Bio for $3 2 billion in mRNA push
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LONDON BRIEFING: BP promises buybacks and 4% annual dividend hikes
Tue, 3rd Aug 2021 08:12
(Alliance News) - BP on Tuesday lifted its quarterly dividend and unveiled a USD1.4 billion share buyback, while dangling the prospect of more of both to shareholders.
The oil major swung to an underlying replacement cost profit for the second quarter of USD2.80 billion from a USD6.68 billion loss a year ago. It also marked an improvement from the first quarter of 2021, when it recorded profit of USD2.63 billion.
Profit was driven by higher oil prices and margins, offset by a lower result in gas marketing and trading
Sanofi to Acquire Translate Bio; Advances Deployment of mRNA Technology across Vaccines and Therapeutics Development Accelerates development of current Sanofi licensed programs in vaccines and potential to explore other therapeutic areas Fast tracks establishment of Sanofi’s recently announced
mRNA Center of Excellence Full integration upgrades drug formulation capabilities and enhances US talent in a promising new technology
PARIS and LEXINGTON, Mass., Aug. 03, 2021 (GLOBE NEWSWIRE) As part of Sanofi’s endeavor to accelerate the application of messenger RNA (mRNA) to develop therapeutics and vaccines, the company has entered into a definitive agreement with Translate Bio (NASDAQ: TBIO), a clinical-stage mRNA therapeutics company, under which Sanofi will acquire all outstanding shares of Translate Bio for $38.00 per share in cash, which represents a total equity value of approximately $3.2 billion (on a fully diluted basis). The Sanofi and Translate Bio Board
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.
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