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The acquisition will add recombinant-based influenza vaccine to Sanofi Pasteur’s portfolio
On July 11, 2017, Sanofi announced that it will acquire vaccines biotechnology company Protein Sciences (Meriden, CT). Protein Sciences’ Flublok Quadrivalent Influenza Vaccine (QIV) is the only FDA-approved recombinant protein-based influenza vaccine.
"The acquisition of Protein Sciences will allow us to broaden our flu portfolio with the addition of a non-egg based vaccine," said David Loew, Sanofi executive vice-president and head of Sanofi Pasteur, Sanofi's vaccines division, in a press release.
"Protein Sciences was actively looking for an opportunity to grow its business, particularly in the US," said Manon M.J. Cox, president and chief executive officer, Protein Sciences. "As part of Sanofi Pasteur, we expect our Flublok influenza vaccine to benefit from Sanofi Pasteur's expertise in the field of influenza vaccines."
The acquisition was unanimously approved by the board of directors of Protein Sciences and most of Protein Sciences’ shareholders. It is expected to close in the third quarter of 2017, subject to customary regulatory approvals. Under the terms of the agreement, Sanofi will make an upfront payment of $650 million and pay up to $100 million upon achievement of certain milestones.