Posted on 28/10/2008 in Pharmaceutical Company Restructures Sanofi Pasteur has announced it has successfully completed the acquisition of Acambis for 285 million pounds, making the company a wholly-owned subsidiary of Sanofi Pasteur Holding.
The firm explains Acambis is a vaccine company which develops treatments that address "significant" unmet medical needs, or "substantially" enhance standards of care.
Sanofi Pasteur states the integration of Acambis' activities serves to strengthen its pipeline of vaccines in development.
Wayne Pisano, president and chief executive officer of Sanofi Pasteur, states the purchase is a "logical and strategic" move for the company, building on the two groups' ten-year partnership to create novel vaccines.
"Acambis' skilled workforce of individuals who share our passion for vaccines and prevention of infectious diseases will contribute to our efforts in answering unmet medical needs of people around the world," he adds.
Concluding, he says Sanofi Pasteur looks forward to welcoming the staff into its organisation.
The Acambis general meeting and court meeting required to approve the acquisition took place on September 2nd, with each resolution necessary for shareholder approval of the scheme or arrangement was passed by more than 99 per cent of shareholders voting.Other news stories from 28/10/2008
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