Business & FinanceDealsHealth

Reuters exclusively reports Sanofi offers to buy U.S. biotech company Translate Bio; market reacts

Reuters exclusively reported that Sanofi has offered to buy U.S. biotech company Translate Bio, as the French drugmaker bets on next-generation mRNA technology after setbacks in the COVID-19 vaccine race. Following the Reuters report, shares in the New York-listed biotech company soared more than 70% in extended trading, building on the big gains in the stock as investors have piled in to the sector amid a rush to develop vaccines and treatments to tame the pandemic. Sanofi confirmed the deal the following morning. 

Market Impact

Following the Reuters report, shares in the New York-listed biotech company soared more than 70% in extended trading.



Article Tags
Topics of Interest: Business & FinanceDealsHealth
Type: Reuters Best
Sectors: Business & FinanceEquities
Regions: Global
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Major Global Story
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