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

Last Updated on 05/08/2021 by


Business & FinanceDealsHealth

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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