SwitzerlandSwitzerland

Patheon pulled in two directions

18.09.2009

Basel – Contract manufacturing specialist Lonza AG has made an offer to buy Canadian competitor Patheon Inc. for US$460m. The proposal calls for the Swiss to pay US$3.55 per share. The pharmaceutical manufacturing contractor says the acquisition would give Lonza greater supply chain coverage. “An acquisition of Patheon would take us into the complementary activities of finished dosage development and manufacturing for both small molecule and biological active ingredients,” said Stefan Borgas, CEO of Lonza. The company has signed a confidentiality and standstill agreement with Patheon not to negotiate an acquisition transaction with any party other than Lonza until the end of September. Patheon is currently trying to fight off a hostile takeover attempt from financial investor JLL, which has launched a bid to acquire Patheon shares for US$2. The US private equity fund, which currently holds 57% of Patheon, has said the Lonza offer “will only distract Patheon management from driving growth in the business” and has dismissed the Swiss move as an “attempt to adversely impact the competitive position of Patheon through an inappropriate review of Patheon’s confidential information.” Analysts disagree about whether Lonza’s current offer is too high or too low.

SwitzerlandSwitzerland

30.03.2012

Basel/Hinxton (UK) – Two European teams have created huge repositories of cancer genomics data that help predict drug response. Swiss Novartis and the Boston-based Broad Institute have combined data obtained from large-scale...

SwitzerlandSwitzerland

27.03.2012

London/Lausanne – The global private equity firm Celtic Therapeutic L.L.L.P. believes in the power of antibody-drug conjugates (ADCs). It is investing $50m in a new Switzerland-based company called ADC Therapeutics Sarl which...

SwitzerlandSwitzerland

26.03.2012

Basel/Vienna - Following promising results from a Phase III study, Roche has submitted a regulatory application to EMA for subcutaneous Herceptin (trastuzumab) to treat HER2-positive breast cancer. Roche said subcutaneous...

SwitzerlandSwitzerland

09.03.2012

After the US Food & Drug Administration forced Swiss generics giant Sandoz AG to update its production facilities in Quebec, there are now fears that supplies of some medicines could grow tight in Canada. The regulatory authority...

SwitzerlandSwitzerland

08.03.2012

The hepatitis C space has seen a string of large deals in the last weeks that include a US$11bn buyout of Pharmasset by Gilead. Now Novartis is also trying to get in the game with the purchase of a global exclusive licence from...

SwitzerlandSwitzerland

06.03.2012

Allschwil – Swiss Actelion Ltd. has strengthened its commercial offerings by securing rights in certain countries to Auxilium’s biotech drug Xiaflex for treating tissue buildup under the skin. The US pharma is to receive US$10m...

SwitzerlandSwitzerland

06.03.2012

Zug – Life Sciences specialist HBM partners has raised €90m in the first close of its HBM BioCapital II fund, which will invest in revenue-generating companies in the pharmaceuticals, medical device and diagnostics sectors....

SwitzerlandSwitzerland

05.03.2012

Stans – Mondobiotech, a drug discovery company in troubled waters, could soon be under Italian ownership: The Swiss biotech announced it has entered into exclusive negotiations with Milan-based provider of pharmaceutical and...

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