Overview
- Sanofi will pay $15.50 per share in cash, valuing Dynavax at about $2.2 billion and reflecting roughly a 39% premium, as Dynavax shares jumped around 38%.
- The acquisition adds Dynavax’s HEPLISAV-B, a U.S.-marketed adult hepatitis B shot with a two-dose, one-month schedule, plus Phase 1/2 shingles candidate Z-1018.
- Sanofi said it will fund the transaction with available cash and does not expect any change to its 2025 financial guidance.
- Closing is targeted for the first quarter of 2026, subject to HSR antitrust review, a majority tender of shares, foreign regulatory clearances, and other customary conditions.
- Separately, the FDA issued a complete response letter for Sanofi’s multiple sclerosis drug tolebrutinib, with the company evaluating the feedback and next steps.