Sanofi (NSDQ:SNY) announced today that it has completed the purchase of its mRNA partner Translate Bio.
The previously announced deal, according to Sanofi, accelerates the French pharma giant’s efforts to develop transformative vaccines and therapies using mRNA technology.
The deal comes during a year in which mRNA-based Moderna (NSDQ:MRNA) and Pfizer-BioNTech (NYSE:PFE/NSDQ:BNTX) COVID-19 vaccines are generating tens of billions of dollars.
Sanofi generated $41 billion in revenue last year.
As of today, Translate Bio is now an indirect, wholly-owned subsidiary of Sanofi. All Translate Bio shares not validly tendered in the tender offer have been converted into the right to receive the same $38 per share in cash.