Sanofi to Buy Translate Bio for $3.2 Billion in mRNA Push
- Sanofi becomes first pharma giant to scoop up mRNA biotech
- Companies are already working on vaccines for flu, Covid
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Sanofi will buy its messenger-RNA development partner Translate Bio Inc. for $3.2 billion as the French drugmaker plays catch-up in deploying the technology behind some of the world’s top-selling Covid-19 vaccines.
Sanofi agreed to pay $38 in cash for each of Translate Bio’s shares. While the price is 30% above Monday’s closing price, the company is getting a potential bargain “in a very hot therapeutic area,” said Wimal Kapadia, an analyst at Bernstein.