News

GSK to buy HGS for US$ 3bn
Enlarge image

BusinessUK

GSK to buy HGS for US$ 3bn

18.07.2012 - A three month buyout dispute has come to an end: Drug giant GlaxoSmithKline plc is to buy Human Genome Sciences Inc. for about US$3,6bn (€2,9bn) or US$3bn after subtracting HGS’s cash and debt, the companies said.

The deal follows weekend talks in which the UK's largest pharmaceutical company agreed to raise its cash bid to US$14.25 a share from US$13. The boards of both companies have approved the deal. GSK said the deadline to tender shares is July 27. The pharma expects to achieve at least US$200m in cost savings from the deal by 2015.

The purchase gives GSK rights to several recently-launched medicines. Thomas Watkins, chief executive of HGS, said: “After a thorough analysis of strategic alternatives, HGS has determined that a combination with GSK is the best course of action for our company and the best way to maximise value for our stockholders.” Rockville-based Human Genome Sciences and GSK originally partnered in 1993 to develop products based on genes identified by the biotech. Last March, the partners launched the first approved product developed under the deal, belimumab (Benlysta). GSK will also gain full rights to two Phase III products: cardiovascular compound darapladib and diabetes product albiglutide. GSK has made multiple buyout offers since April that valued HGS at US$2.6bn, or US$13 per share, but the company’s board of directors repeatedly rejected them as too low .

http://www.european-biotechnology-news.com/news/news/2012-03/gsk-to-buy-human-genome-sciences-for-us-3bn.html

BusinessUKSwitzerland

29.07.2015 Newly founded Mereo BioPharma has acquired three mid-stage clinical assets from Novartis. In turn, the Swiss pharma concern will hold a stake in the UK company. Other investors are also on board.

M&AIreland

28.07.2015 Irish Allergan is bolstering its product pipeline with a takeover of CNS specialist Naurex. At the same time, the company is divesting its global generics business to Teva.

Public marketGermanyFranceBelgiumFinlandDenmarkUK

24.07.2015 Biotech companies across Europe continue to raise cash on the public markets, generating €3bn in total financing proceedings in the first half of 2015. Compared to 2014, this is almost twice as much.

FinanceFrance

23.07.2015 US money keeps flowing into Europe's biotechs. As the race for the peanut allergy market heats up, NASDAQ listed French biotech DBV has announced the successful closing of US$281m (€256m) share offering for its allergy products.

BioplasticsFrance

21.07.2015 French biotech Deinove has launched a R&D programme to produce the versatile chemical intermediate muconic acid by using a designer variant of the Deinococcus bacteria.

BusinessFrance

16.07.2015 Sanofi has announced plans to restructure its business in five standalone global business units starting in January 2016. The goal is to promote growth and help the company launch a catalogue of new drugs over the next five years.

R&DUK

15.07.2015 GlaxoSmithKline (GSK) has become the first drugmaker to join the Francis Crick Institute. It is a consortium made up of six scientific and academic institutes to conduct research and drug development in the UK. The new institute is set to become a world-leading centre of biomedical research and innovation.

FundingUK

13.07.2015 UK drug developer ReNeuron has pulled in £68.4m (€96m) for its cell therapy pipeline for stroke and blindness treatments. Biotech guru Neil Woodford increases his fund’s stake in ReNeuron.

BusinessSweden

10.07.2015 Karolinska Development has slashed the reported value of its portfolio by almost half by revising its valuation model for early stage companies and divesting its shares in pain med maker Pharmanest.

M&AIreland

08.07.2015 Horizon Pharma plc. has set its sights on US-American speciality pharma company Depomed Inc. After getting nowhere with the rival’s board, Horizon has now launched a US$3bn hostile bid for the pain and CNS specialist.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • SERODUS (N)2.60 NOK4.00%
  • SUMMIT (UK)4.03 GBP3.87%
  • FLAMEL TECHNOLOGIES (F)23.88 USD3.83%

FLOP

  • BASILEA (CH)103.50 CHF-13.10%
  • ZELTIA (E)3.69 EUR-8.44%
  • DIAMYD MEDICAL -B- (S)9.20 SEK-6.60%

TOP

  • IXICO (UK)34.00 GBP51.1%
  • DBV TECHNOLOGIES (F)78.26 EUR50.9%
  • ZEALAND PHARMA (DK)149.00 DKK34.8%

FLOP

  • BIOTEST (D)25.40 EUR-63.7%
  • CHRONTECH PHARMA (S)0.01 SEK-50.0%
  • BIOTECH PHARMACON (N)9.74 NOK-43.4%

TOP

  • ADOCIA (F)88.47 EUR565.7%
  • FORMYCON (D)28.89 EUR326.7%
  • DBV TECHNOLOGIES (F)78.26 EUR301.5%

FLOP

  • CHRONTECH PHARMA (S)0.01 SEK-88.9%
  • NEUROVIVE PHARMACEUTICAL AB (S)22.00 SEK-70.3%
  • NEOVACS (F)1.02 EUR-69.1%

No liability assumed, Date: 30.07.2015