05.01.2015 – Austrian-French biotech company Valneva SE is bolstering its vaccine business and has acquired oral cholera vaccine Dukoral and its manufacturer Crucell Sweden AB.
Lyon-based Valneva is set to pay €45m to Dutch Crucell Holland B.V. in exchange for vaccine specialist Crucell Sweden AB. The agreement entails the purchase of the manufacturing site in Solna and will affect around 115 employees. Included in the deal are all assets, licenses and privileges related to Dukoral and a Nordics vaccine distribution business. Dukoral is an oral vaccine against cholera and traveller's diarrhea caused by ETEC, the leading bacterial cause for diarrhea in the developing world.
With the move, Valneva aims to boost its traveller's vaccines business and complement its serum for Japanese encephalitis – the only vaccine currently in the company's portfolio. "With this second traveller's vaccine in our portfolio, together with its commercial infrastructure, we are strengthening our foundations for further growth. This acquisition is in line with Valneva’s strategy to reinforce its commercial vaccines portfolio and accelerates the company’s path to financial self-sustainability,” commented Thomas Lingelbach, President and CEO of Valneva. The acquired business generated revenues of €38m in 2013 and €23m in the first nine months of 2014 from the sales of Dukoral and the distribution of several other vaccines for third parties.
Valneva plans to finance the deal with a combination of debt and equity, and expects to finalise the acquisition in February.