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Vivalis and Intercell set to merge
France’s Vivalis is set to buy Intercell in a deal valuing the Austrian vaccine maker at around €133m (£108m), and creating an enlarged player in the European biotech industry. Both companies are loss-making and the tie-up, billed as a merger of equals, will allow for cost savings of €5m-€6m a year, the companies said yesterday. The combined group will be called Valneva.