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Pfizer to buy 8.1 percent stake in French vaccines company Valneva

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U.S. healthcare giant Pfizer has agreed to invest 90.5 million euros ($95.24 million) to buy an 8.1% percent stake in French vaccines company , as the companies announced developments in their partnership to tackle the Lyme disease.

Pfizer will buy the stake in Valneva, which is also working on its COVID-19 vaccine, at a price of 9.49 euros per share, via a reserved capital increase.Register now for FREE unlimited access to Reuters.comValneva will use the proceeds from Pfizer’s equity investment to support its Phase 3 development contribution to the Lyme disease program.

"Pfizer's investment in Valneva highlights the quality of the work that we’ve done together over the past two years and is a strong recognition of Valneva's vaccine expertise," said Valneva chief executive Thomas Lingelbach.

 

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