France’s Valneva has announced positive top-line Phase III data for its investigational chikungunya vaccine, and the NASDAQ- and Euronext-listed company looks set to launch the product next year.

Deal snapshot: For $425m up front, the pharma obtains a Phase III recombination fusion protein that shows ability to improve hospitalized patients’ clinical status and reduce risk of death.

Merck’s third quarter beat analyst consensus and the company raised its guidance. The COVID-19-battered vaccines business began to improve but Gardasil’s recovery was slower than expected.

Merck & Co’s chief executive shares views on the need for “reasonable” returns on COVID-19 therapeutics and vaccines, and on the future US pricing environment, at the USAIC summit.