Sanofi SA (NASDAQ:SNY) announced plans to acquire Synthorx Inc (NASDAQ:THOR) in a cash deal worth about $2.5 billion, or for $68 per share in cash, representing a 172% premium to the latter's closing price on Dec. 6.
Also Monday, the Swiftwater, Pa.-based Sanofi announced that its Sanofi Pasteur, vaccines global business unit, has entered into an agreement with the U.S. Department of Health and Human Services (HHS) to increase the company's domestic pandemic influenza vaccine production capabilities.
The contract is supported by federal funds from the Biomedical Advance Research and Development Authority (BARDA), part of the Office of the Assistant Secretary for Preparedness and Response at HHS.
According to Vaccines Executive Vice-President Davie Loew, "We are pleased to be taking this critical next step in our longstanding relationship with BARDA, which will enable us to significantly enhance flu vaccine supply under pandemic influenza scenarios.
"We are deeply committed to advancing influenza vaccine technology and manufacturing, and our public and private partnerships are an important part of these ongoing efforts to help protect people from influenza."
The contract will support the clinical development and manufacturing of a revolutionary pandemic vaccine to help enhance U.S. and global pandemic preparedness.
This investigational pandemic vaccine will utilize the same recombinant technology as Sanofi's Flublok®Quadrivalent (influenza vaccine). In addition, the contract will expand the site's role as a center of excellence for pandemic preparedness by adding both recombinant and adjuvant manufacturing alongside current egg-based manufacturing.
SNY shares lost 30 cents to $45.73, while THOR shares backtracked $2.20, or 3.3%, to $65.57
