Sanofi made several significant strides in the biotech market. They inked a $700 million immunology deal with Belharra and joined hands with Biovac to strengthen Africa's supply of polio and meningitis vaccines. Audrey Duval Derveloy was appointed the new global head of corporate affairs. Successful efforts in AI-powered drug development were reported, and CEO Paul Hudson discussed the 'insane' potential of AI in pharma. The company bought Inhibrx for $1.7 billion, took a $237,000 stake, and saw large volume increases. With the completion of its €20bn consumer healthcare spin-off, Novavax reeled in a $1.2 billion deal. Amidst some restructuring and job cuts, Sanofi also managed to strike deals with Novavax, setting the stage for significant growth in the vaccine maker. In addition, Sanofi signed a $1.2bn agreement for Novavax’s Covid-19 vaccine, resulting in a near doubling of Novavax shares. Sanofi’s shares reacted positively to these strategic advances. Despite some profit slips due to generic competition and currency effects, Sanofi's sales and profit surpassed expectations.
Sanofi News Analytics from Fri, 01 Sep 2023 23:17:18 GMT to Sun, 23 Jun 2024 12:28:50 GMT -
Rating 8
- Innovation 7
- Information 9
- Rumor -3
