Corporate News Blog - Sanofi Completes Acquisition of Vaccines Biotechnology Company, Protein Sciences
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LONDON, UK / ACCESSWIRE / August 30, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Sanofi (NYSE: SNY), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=SNY. The Company announced on August 28, 2017, that it has completed the acquisition of Protein Sciences. Sanofi could move towards completion after the US Federal Trade Commission (FTC) approved the Sanofi/Protein Sciences deal. FTC cleared the deal since it met all the conditions set forth by the Commission. Sanofi had announced the acquisition of Protein Sciences on July 11, 2017, in a $750 million deal. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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What Sanofi gains from the deal?
The acquisition allows Sanofi to expand the product portfolio of Sanofi Pasteur, to add Flublok® (Influenza Vaccine) to its influenza vaccine portfolio. Protein Sciences' Flublok® is the only recombinant protein-based influenza vaccine that was approved by the US Food and Drug Administration (FDA). FDA approved Protein Sciences' quadrivalent version of Flublok® vaccine (Flublok Quadrivalent vaccine) in October 2016, which can be used on adults 18 years and older. The acquisition of Protein Sciences is in-line with the Sanofi's strategy of exploring options in non-egg-based influenza vaccine manufacturing technologies.
Commenting on the occasion, David Loew, Sanofi Executive Vice President and Head of Sanofi Pasteur, said:
"This acquisition is consistent with our strategic ambition of expanding our presence in the respiratory vaccine market, and builds on the recently announced collaboration on an investigational respiratory syncytial virus (RSV) monoclonal antibody."
About Flublok Quadrivalent vaccine
Protein Sciences developed Flublok®, the world's first recombinant protein based influenza vaccine. Flublok® is the only flu vaccine made in a 100% egg-free system using modern cell culture technology, making it unnecessary to use an infectious influenza virus or antibiotics in manufacturing. It received FDA approval for Flublok® in 2013 for adults 18 to 49 years old. In October 2014, FDA approved Flublok® for all adults 18 and over (no upper age limit). The commercial manufacturing of Flublok® was approved in May 2015 after which Protein Sciences started large scale manufacture of the vaccine at their Pearl River, New York facility.
Finally, in October 2016, FDA approved Flublok® Quadrivalent for adults 18 and older. Flublok® Quadrivalent vaccine is the quadrivalent version of FDA-approved trivalent Flublok® influenza vaccine and is designed to protect against four strains of influenza - the three strains that are included in trivalent Flublok® plus one additional B strain. Clinical studies indicated that Flublok® Quadrivalent is better at preventing flu and is more effective than the traditional influenza vaccine.
The Company is currently working on developing alternative methods to administer the vaccine so that the traditional syringe and needle way of administering the vaccine could be eliminated. The Company is also exploring the ways to develop the formulation so that it does not require refrigeration.
Sanofi/Protein Sciences deal
On July 11, 2017, Sanofi announced the acquisition of Protein Sciences in a $750 million deal. Meriden, Connecticut based Protein Sciences was established in 1983. It is a privately held biotech company that develops vaccines and biopharmaceuticals for the prevention and treatment of a variety of diseases. The company's pipeline of future products focuses on seasonal influenza, pandemic influenza, and other viral diseases.
As per terms of the agreement, Sanofi agreed to pay $650 million upfront and the remaining $100 million was payable on reaching certain pre-agreed milestones. Other details and terms of the deal were not disclosed by both companies. The deal was approved by the Boards of Directors of both companies as well as Protein Sciences' shareholders. The deal was expected to close in Q3 2017 subject to receiving regulatory approvals and other closing conditions.
About Sanofi and Sanofi Pasteur
Paris, France based Sanofi is a global life sciences company that discovers, develops, and distributes therapeutic solutions focused on patients' needs. Sanofi's business is divided into five global business units: Diabetes and Cardiovascular; General Medicines and Emerging Markets; Sanofi Genzyme; Sanofi Pasteur; and Consumer Healthcare. The Company's global footprint is spread over 170 countries with 87 manufacturing sites in over 38 countries. It is supported by a global team of over 100,000 employees.
Lyon, France based Sanofi Pasteur is the vaccines division of Sanofi and global manufacturer of human vaccines. The company produces more than 1 billion doses of vaccines annually to immunize more than 500 million people in the world. The Company is also the world's largest manufacturer of influenza vaccine and completed production of 200 million doses of seasonal influenza vaccine in 2016. This represents approximately 40% of the total influenza vaccines distributed worldwide.
Last Close Stock Review
On Tuesday, August 29, 2017, the stock closed the trading session at $48.96, slightly dropping 0.12% from its previous closing price of $49.02. A total volume of 459.46 thousand shares have exchanged hands. Sanofi's stock price surged 3.38% in the last one month, 12.60% in the past six months, and 25.76% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have rallied 21.07%. The stock is trading at a PE ratio of 22.41 and has a dividend yield of 3.35%. The stock currently has a market cap of $123.14 billion.
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