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Sanofi and the Dynavax Acquisition: Adult Vaccine Market Shifts
Sanofi to buy Dynavax for $2.2B: big bet on adult vaccines (hep B + shingles)
What happened
Sanofi ($SNY) agreed to acquire Dynavax ($DVAX) in an all-cash deal valued at about $2.2B (reported price: $15.50/share). The goal is to strengthen Sanofi’s adult vaccine lineup with Dynavax’s marketed hepatitis B vaccine (Heplisav-B) and an early-stage shingles candidate (Z-1018). Deal is expected to close in early 2026, subject to approvals.
Why markets care
Adult vaccines are a growth battleground: Big Pharma is willing to pay for differentiated schedules, better adherence, and large adult catch-up…
The skinny
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