BRITISH pharmaceutical giant GSK is buying COVID and influenza vaccines from CureVac, reported Reuters. It will pay CureVac 400m (A$642m) upfront and up to 1.05b (A$1.69b) contingent on achievements.
CureVac shares surged 24% higher on the news. As a result of the acquisition, CureVac which will lay off 30% of its staff to focus on mRNA projects in oncology.
This is in addition to the 1,000 jobs it slashed in Apr, as a result of its failure to develop an mRNA-based COVID vaccine during the pandemic.
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