Sanofi is expanding its vaccine business. It will buy Dynavax for $2.2 billion

French pharmaceutical company Sanofi has announced it will buy US vaccine maker Dynavax Technologies for about $2.2 billion (€1.9 billion). Sanofi will pay $15.50 per share in cash - that's about 39% of Dynavax's closing price at the close of trading on Tuesday, December 23, and 46% of the company's weighted average price over the past three months. Sanofi shares were down 0.2% in Paris trading on Dec. 24.

As part of the deal, Sanofi will gain access to the U.S.-approved Dynavax hepatitis B vaccine, as well as an experimental shingles vaccine in the early stages of development, Reuters writes.

In August, Dynavax reported that its shingles vaccine showed an immune response comparable to GSK's Shingrix, which is considered one of the most effective and commercially successful solutions on the market, in an early-to-medium phase study. Meanwhile, the Dynavax vaccine showed a "more favorable safety profile," according to Reuters, with milder side effects, which could be an important advantage for mass vaccination, especially among elderly patients.

Sanofi expects to complete the Dynavax acquisition in the first quarter of 2026 and finance it with its own cash. The company noted that the acquisition of Dynavax will not affect its financial outlook for 2025.

The deal continues Sanofi's series of acquisitions in 2025 as part of the company's strategy to diversify its business and sources of growth beyond the company's most popular drug, asthma remedy Dupixent, Reuters emphasizes. In July, the company acquired British private biotech firm ViceBio for $1.5 billion.

This article was AI-translated and verified by a human editor