Sanofi will acquire its messenger-RNA development partner ‘Translate Bio Inc.’ for $3.2 Billion.
Sanofi concurred upon paying $38 in cash for each of Translate Bio’s shares. The price is 30% more than Monday’s closing price. The company is getting a potential bargain “in a very hot therapeutic area,” said Wimal Kapadia, an analyst at Bernstein.
Sanofi Chief Executive Officer Paul Hudson said, “Our goal is to unlock the potential of mRNA in other strategic areas such as immunology, oncology, and rare diseases in addition to vaccines.”