Sanofi agrees terms for£276m Acambis purchase
28 Jul 2008
Sanofi-aventis has revealed its vaccines division has agreed terms with UK-based Acambis on a unanimously recommended cash offer valued at around £276 million.
The offer price from Sanofi Pasteur Holding equates to 190 pence in cash for each share.
Acambis, a firm which develops novel vaccines, has been working in partnership with Sanofi Pasteur for over ten years.
President and chief executive officer of Sanofi Pasteur Wayne Pisano said: "We are delighted that the board of Acambis has unanimously agreed to recommend our proposed acquisition."
He expressed the view that the move is "mutually beneficial" and represents a "logical step" for the companies.
Sanofi Pasteur last month opened a new 100 million euro vaccine production facility in Val de Reuil, France.
It revealed the site is able to produce medicines protecting against 20 diseases and is ready to switch to the pandemic influenza vaccine in the event that such a strain is identified by the World Health Organisation.
