Pfizer Ploughs €90.5M Into French Co. For Lyme Vaccine

By Najiyya Budaly (June 20, 2022, 1:33 PM BST) -- Pharmaceutical giant Pfizer plans to invest €90.5 million ($95 million) in vaccine company Valneva to allow them to continue their collaboration on a program for Lyme disease, the firms said.

Pfizer Inc., which sits on the New York Stock Exchange, said it would pay €9.49 per share for an 8.1% stake in Valneva SE, which is listed on the Nasdaq and Euronext Paris exchanges. Valneva will issue 9,549,761 new ordinary shares to Pfizer under the transaction.

The offer price represented a 20% premium to Valneva's closing price of €7.94 on Friday. The companies said the figure was based on the average closing...

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