Sanofi announces Protein Sciences acquisition

Sanofi has announced it is to acquire vaccine biotech firm Protein Sciences in a deal that could cost as much as $750 million (584 million pounds).

The French pharmaceutical firm is paying $650 million up-front for Protein Sciences, followed by as much as $100 million, depending on the success of future projects.

Executive vice-president and head of the vaccine division for Sanofi Pasteur David Loew said the move enables Sanofi to "broaden [its] flu portfolio with the addition of a non-egg based [flu] vaccine".

Sanofi acquires the Flubok Quadrivalent Influenza Vaccine as part of the deal – the only recombinant protein-based influenza vaccine to have FDA approval.

Protein Sciences' board of directors approved the acquisition unanimously, and the deal is due to be completed in the third quarter of the year.

President and chief executive officer at Protein Sciences Manon M J Cox said the company welcomed the move, as his firm was "actively looking to grow its business, particularly in the US".

With over 20 years of experience within the pharmaceutical market, we at Zenopa have the knowledge, skills and expertise to help find the right job for you. To find out more about the current pharmaceutical roles we have available, you can search for the latest job roles, register your details, or contact the team today.