Drugmaker Sanofi in $3.2bn deal to catch up in mRNA vaccine technology     

Sanofi shares rose less than 1% in Paris while Translate Bio surged in US exchanges.

Sanofi will buy its messenger-RNA development partner Translate Bio for $3.2bn (€2.7bn) as the French drugmaker plays catch-up in deploying the technology behind some of the world’s top-selling Covid-19 vaccines.

Sanofi agreed to pay $38 (€32) in cash for each of Translate Bio’s shares.