Sanofi-Aventis' announcement earlier this week that it is buying the UK's Acambis for $549 million is fresh evidence of a buoyant vaccine market. The French drug company is paying a 65 percent premium for Acambis' shares to close the deal.
Among other operations, Acambis has major development work underway in Massachusetts. And the company says the buyout will lead to an expansion of its efforts. Sanofi-Aventis will have 250 employees in Massachusetts after the deal closes. The two companies have already engaged in partnerships to develop new vaccines for West Nile disease and dengue fever. Acambis also has struck a 10-year supply deal with the U.S. government for its anthrax vaccine.
"This is not one of those slash-and-burn acquisitions," Acambis chief executive Ian Garland told the Boston Globe. "They expect to continue to invest."
- here's the releaseon the buyout
- read the report from the Boston Globe