Sanofi Pasteur and Acambis agree cash offer terms
Sanofi Pasteur and vaccine developer Acambis have agreed a cash offer for the Cambridge based company.
Sanofi Pasteur and vaccine developer Acambis have agreed a cash offer for the Cambridge based company.
Sanofi Pasteur will pay around £276m (Euro 349m) for the acquisition. The offer price equates to 190p per share - a 65.2 % premium on Acambis" share price of 115p at the time of the offer.
The directors of Acambis, advised by Goldman Sachs International, consider the terms fair and intend to recommend to shareholders to vote in favour of the scheme.
Wayne Pisano, chairman, president and ceo of Sanofi Pasteur, said: "This mutually beneficial acquisition is a logical step building upon Sanofi Pasteur and Acambis" decade long partnership on key projects to develop and market vaccines of the future. Acambis" skilled workforce of individuals who share our passion for vaccines and prevention of diseases will contribute to our future success."
Dr Peter Fellner, chairman of Acambis, added: "Sanofi Pasteur, which is one of the world's largest vaccines companies, will benefit strategically not only from Acambis" pipeline and technologies, but also from its significant US-based r&d and manufacturing infrastructure."
Acambis" product portfolio includes: a licensed smallpox vaccine, ACAM2000, for which it has a contract with the US government; three late- and mid-stage programmes partnered with Sanofi Pasteur for vaccines against Japanese Encephalitis, dengue and West Nile virus; and early-stage proprietary programmes targeting the fields of C. difficile, influenza and genital herpes.