Pfizer buys stake in French vaccines company Valneva

  • 📰 IrishTimes
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 98%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Shares rise sharply, surging by 14.5% in early session trading V

Shares surge as US pharma group to pay €90.5m for 8% in deal that will boost joint Lyme disease programmeValneva and Pfizer also updated the terms of their collaboration and license agreement which they announced on April 30, 2020 for the Lyme disease vaccine candidate VLA15.. Photograph: iStockPfizer has agreed to pay €90.5 million for an 8.1 per cent stake in Valneva, in a move that will bolster the French vaccine company’s Lyme disease programme.

The transaction will be seen as a vote of confidence in Valneva, which has weathered turmoil with its Covid-19 vaccine candidate. Shares in the company jumped more than 20 per cent in morning trading in Paris. Pfizer shares were largely unchanged before the market open in New York. The EU last month also terminated its procurement contract for the shot amid slowing demand for Covid-19 vaccines. Valneva is in talks with Brussels and member states over the way forward, it has said, while the European Medicines Agency continues its review of the shot. The vaccine has received conditional approval from the UK drugs watchdog.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Pfizer buys 8.1 per cent stake in French vaccines company ValnevaPfizer buys 8.1 per cent stake in French vaccines company Valneva via IrishTimesBiz
Source: IrishTimesBiz - 🏆 6. / 77 Read more »