PARIS — Sanofi on Tuesday announced that it would be acquiring vaccine company Protein Sciences for $650 million upfront. The acquisition also would see Sanofi paying an additional $100 million based on certain milestones.
“Protein Sciences was actively looking for an opportunity to grow its business, particularly in the United States,” Protein Sciences president and CEO Manon M.J. Cox said. “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 deal would bring Protein Sciences’ recently approved Flublok quadrivalent flu vaccine to its portfolio — bringing the company a non-egg-based flu vaccine.
"The acquisition of Protein Sciences will allow us to broaden our flu portfolio with the addition of a non-egg based vaccine," Sanofi EVP and head of the company’s vaccine arm Sanofi Pasteur David Loew said.
Sanofi and Protein Sciences expect the deal to close by the end of the third quarter