Pfizer to buy stake in French vaccine company 

The healthcare giant has agreed to invest €90.5m to buy an 8.1% stake in Valneva as the companies announced developments in their partnership to tackle Lyme disease.

Valneva will use the proceeds from Pfizer’s equity investment to support its Phase 3 development contribution to the Lyme disease program.

Healthcare giant Pfizer PFE.N has agreed to invest €90.5m to buy an 8.1% stake in French vaccines company VLS.PA, as the companies announced developments in their partnership to tackle Lyme disease.

Pfizer will buy the stake in Valneva, which is also working on its Covid-19 vaccine, at a price of €9.49 per share, via a reserved capital increase.