LONDON, UK / ACCESSWIRE / July 13, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for French drug maker and healthcare group 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 July 11, 2017, its plans to acquire the privately held vaccines biotech Company Protein Sciences for a total consideration of $750 million. With this deal, Sanofi is trying to step up its acquisition program after recently missing two large deals. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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Details of the deal
As per the agreement, Sanofi will make an upfront payment of $650 million and will pay the remaining $100 million upon achievement of certain milestones. Up till now, the Board of Directors of Protein Sciences and a majority of its shareholders have unanimously approved the acquisition. However, the deal is subject to customary regulatory approvals and is expected to close in Q3 2017.
Deal will broaden Sanofi's flu portfolio
In October 2016, the US Food and Drug Administration (FDA) approved Protein Science's Flublok® Quadrivalent Influenza Vaccine (QIV). As of now, Flublok® is the only recombinant protein-based influenza vaccine approved by the FDA.
David Loew, Executive Vice President and Head of Sanofi Pasteur (i.e. Sanofi's vaccines division) stated that the acquisition of Protein Sciences will help Sanofi broaden its flu portfolio with the addition of a non-egg based vaccine.
Sanofi's vaccines portfolio already includes the four-in-one influenza vaccine Fluzone Quadrivalent, which the FDA approved in June 2013. The addition of Flublok®, however, brings a vaccine that can be used by those with egg allergies and has a shorter production timeline than tradition vaccines. All in all, this deal will strengthen Sanofi's position in the highly consolidated vaccine industry.
Flublok® to benefit from Sanofi's expertise
Manon M.J. Cox, the Company's President, and Chief Executive Officer exclaimed that Protein Sciences has been actively looking for an opportunity to grow its business, especially in the US. He is hopeful that their vaccine, Flublok® will certainly benefit from Sanofi Pasteur's expertise in the field of influenza vaccines.
About Protein Sciences
Protein Sciences is a privately held biotech Company, which was established in 1983. It is headquartered in Meriden, Connecticut. Protein Sciences' mission is to save lives and improve health through the creation of innovative vaccines and biopharmaceuticals.
About Sanofi
Sanofi is a global healthcare leader, which discovers, develops, and distributes therapeutic solutions focused on patients' needs. Sanofi is organized into five global business units: Diabetes and Cardiovascular; General Medicines and Emerging Markets; Sanofi Genzyme; Sanofi Pasteur; and Consumer Healthcare.
Last Close Stock Review
On Wednesday, July 12, 2017, the stock closed the trading session at $48.89, rising 2.28% from its previous closing price of $47.80. A total volume of 1.06 million shares has exchanged hands. Sanofi's stock price surged 8.24% in the last three months, 19.10% in the past six months, and 15.04% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have rallied 20.90%. The stock is trading at a PE ratio of 23.70 and has a dividend yield of 3.35%. At Wednesday's closing price, the stock's net capitalization stands at $124.66 billion.
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