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

11.11.2011

Ghent/Geneva - Ablynx rides the biotech rollercoaster. Only days after US-pharma company Pfizer pulled out of a rheumatoid arthritis pact, the Belgian bipharmaceutical outfit expanded its relationship with Merck Serono. Ablynx...

SwitzerlandSwitzerland

10.11.2011

Alschwil - Actelion Ltd. gets a badly needed injection of fresh capital. Under the guidance of the two biggest Swiss banks, UBS and Credit Suisse, the Swiss biopharmaceutical company takes up €171 million agreeing to pay a 4,875%...

SwitzerlandSwitzerland

18.10.2011

Basel/San Diego –Swiss drug company Roche has announced it is buying biotech-company Anadys Pharmaceuticals for US$230 million. Under the terms of the merger agreement, Roche will commence an all cash tender offer for all...

Germany, SwitzerlandSwitzerland

12.10.2011

The Swiss technology transfer organisation Unitectra is the winner of the European Biotechnica Award 2011. The specialist for technology transfer received the award from hands of Lower Saxony's Minister for Economy Jörg Bode. The...

SwitzerlandSwitzerland

01.10.2011

Liestal – Swiss Santhera AG has announced strict savings measures. Out of a total of 21 employees, almost every second is now slated to be sacked. The biotech firm is closing its department of preclinical development and scaling...

SwitzerlandSwitzerland

01.10.2011

Schlieren – Swiss biotechnology company Cytos AG has finally devised a plan to help its lead candidate into Phase II, but to achieve it, the cash-strapped company is having to slash its workforce by a whopping 85%. To ensure the...

SwitzerlandSwitzerland

01.10.2011

Geneva – Swiss biotech Addex Pharmaceuticals AG has regained all rights to its metabotropic glutamate receptor 4 (mGluR4) positive allosteric modulator (PAM) programme from Merck&Co, (known as MSD outside the United States and...

SwitzerlandSwitzerland

01.10.2011

Hamburg – When the compound EVT302 failed proof-of-concept testing in the spring of 2009, investors began backing away from Evotec AG shares. Now the selective MAO-B inhibitor is back, and has powered a leap in the company’s...

SwitzerlandSwitzerland

15.09.2011

Zurich – The FDA has posted a manufacturing warning to Lonza following an inspection of the firm's microbial production site for Eisai’s cancer drug Ontak in Hopkinton. However, analysts at Vontobel said that the impact of the...

SwitzerlandSwitzerland

30.08.2011

Schlieren - Swiss biotechnology company Cytos has devised a plan to get its lead candidate into Phase II. To achieve this, the cash strapped company will slash its workforce, as previously announced, by 85%. To ensure the...

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