Sanofi (SNY) to acquire mRNA developer Translate Bio (TBIO) for $3B

Multinational pharmaceutical company Sanofi (SNY) will acquire mRNA developer Translate Bio (TBIO) for an astounding $3.5 Billion as the French drug maker plays catch-up in deploying the technology behind some of the world’s top-selling Covid-19 vaccines.

Our goal is to unlock the potential of mRNA in other strategic areas such as immunology, oncology and rare diseases in addition to vaccines

Paul Hudson – Sanofi Chief Executive Officer

In June, Sanofi announced plans to invest about $480 million a year in mRNA technology with a newly created “center of excellence” focused on everything from basic research to manufacturing. That initiative is aimed at speeding up the pipeline of mRNA products being developed by Sanofi and Translate Bio, along with making mRNA shots that are more stable at average temperatures and less likely to cause side effects.