One of the big pharma entities in the U.S., Pfizer Inc. (NYSE: PFE)<\/b>, just got into a deal with French jab manufacturer Valneva SE.<\/p>\n
The timing of this deal couldn\u2019t have come at a better time, given the setback and reputational risks that Valneva has been facing in its Covid-19 vaccine candidate disagreement with the UK government. The incident had only served to dent business and consumer confidence in Valneva.<\/p>\n
Luckily, the UK\u2019s Medicines and Healthcare Products Regulatory Agency (MHRA) rigorously tested Valneva\u2019s Covid-19 vaccine and certified it as safe back in April 2022.<\/p>\n
And now, after reeling through that turmoil that saw Valneva\u2019s share price tank some 35% at the time, the French pharmaceutical is accelerating its Lyme disease vaccine research with the help of Pfizer\u2019s cash injection<\/p>\n
Details of the equity subscription agreement<\/strong><\/p>\n Pfizer will be forking out $95 million to buy an 8.1 stake in Valneva. The cash boost will primarily be an investment in Valneva\u2019s phase 3 of the testing program and the continued development of Lyme disease vaccine candidate VLA15. It\u2019s a part of a grand plan between Pfizer and Valneva in their partnership agreement to fight Lyme disease.<\/p>\n Through a reserved capital increase, Pfizer will purchase the 8.1% equity for $9.99 per share. Additionally, Valneva will receive tiered royalties of between 14% and 22% from different stages of the VLA15 vaccine development.<\/p>\n The Pfizer and Valneva partnership moving forward<\/strong><\/p>\n The two biotech firms first announced their partnership and collaboration in the Lyme Disease Program in April 2020.<\/p>\n If anything, this $95 million deal is an extension of that partnership. Pfizer Inc. (NYSE: PFE) plans to formally launch phase 3 of the Lyme disease vaccine program in quarter three of 2022.<\/p>\n The joint Lyme disease venture is already showing a promising outlook for Valneva as its share price breaks out to trade at a 16% higher share price after a 52% increase in the week ending June 19, 2022.<\/p>\n","protected":false},"excerpt":{"rendered":" One of the big pharma entities in the U.S., Pfizer Inc. (NYSE: PFE), just got into a deal with French jab manufacturer Valneva SE. The […]<\/p>\n","protected":false},"author":15,"featured_media":46186,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[264],"tags":[993,15819,15820,992,2745],"stock_ticker":[],"class_list":["post-46815","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-health","tag-nysepfe","tag-pfe-news","tag-pfe-stock","tag-pfizer","tag-pfizer-inc-nysepfe","entry"],"acf":[],"yoast_head":"\n