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

21.02.2012

Basel/Berkeley – Europe enters into the age of personalised medicine. The European Commission has approved the melanoma drug Zelboraf. While the compound was developed by US-based Plexxikon Inc., owned by Daiichi Sankyo Group,...

SwitzerlandSwitzerland

26.01.2012

Basel – The rumours started just before Christmas. Roche wants Illumina. Just how dearly, has just become clear. The Swiss drugmaker made a $5.7b hostile bid for Illumina, the current market leader in Next-Generation sequencing....

SwitzerlandSwitzerland

23.01.2012

Basel – Good and bad news for Swiss drugmaker Novartis. First a look on the bright side: Signifor, for the treatment of Cushing's disease, is on its final stretch to approval. The Committee for Medicinal Products for Human Use...

SwitzerlandSwitzerland

19.12.2011

Basel - It is a further push for Roche's ambitions in medicine concerning the treatment of skin cancer: The European Committee for Medicinal Products for Human Use (CHMP) has recommended that the drug Zelboraf and its companion...

SwitzerlandSwitzerland

17.12.2011

Allschwil – Europe’s largest stand-alone biotech company Actelion Ltd. is receiving an injection of fresh capital. Under the guidance of the two biggest Swiss banks – UBS and Credit Suisse – the Swiss company will be issued a...

SwitzerlandSwitzerland

14.12.2011

Stans – Due to the current financial market conditions and the lack of significant progress with currently available options, Swiss drug developer Mondobiotech says it will be implementing restructuring measures. Together with...

SwitzerlandSwitzerland

14.12.2011

Geneva – There's is life in Swiss biotechnology beyond big pharma. Genentech has launched a First-in-Human study with anti-IL-17, an antibody made by the Swiss biotechnology company NovImmune. The fully human monoclonal antibody,...

SwitzerlandSwitzerland

22.11.2011

Basel – The FDA has withdrawn the accelerated approval for Roche's Avastin (bevacizumab) to treat metastasising breast cancer. The US regulatory authority had originally granted accelerated approval for Avastin's use in treating...

SwitzerlandSwitzerland

16.11.2011

Basel/Hervel – It may be the end of Novartis' lucky streak in osteoporosis. While the once a year osteoporosis injection Aclasta (a bisphosphonate) sells well, the Swiss pharma company had to break disastrous news from a...

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