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

M&ASwitzerland

30.06.2015 Pharma giant Novartis has bumped up its neuroscience portfolio with the recent purchase of Australian biotech Spinifex for a US$200m upfront payment plus US$500 in milestone payments. The acquisition is centred on Spinifex’ mid-stage pain drug EMA401.

M&ASwitzerland

30.06.2015 Pharma giant Novartis has bumped up its neuroscience portfolio with the recent purchase of Australian biotech Spinifex for a US$200m upfront payment plus US$500 in milestone payments. The acquisition is centred on Spinifex’ mid-stage pain drug EMA401.

Personalised MedicineGermany

25.06.2015 German immunotherapy expert BioNTech AG has partnered up with Europe’s largest engineering company Siemens to construct a manufacturing site for BioNTech’s personalised cancer vaccine.

Bioelectronic researchSweden

24.06.2015 Swedish scientists have created artificial neurons that are capable of mimicking the function of human nerve cells. The researchers hope that, once minituarised, they may one day be used to restore disturbed neural function.

FinancingLuxembourgItalySwitzerland

23.06.2015 Cosmo Pharmaceuticals is floating its majority-owned subsidiary Cassiopea at the Swiss Stock Exchange, with the aim to raise between CHF150m and CHF200m.

EventEUGermany

22.06.2015 For the 31st time, the ACHEMA has drawn the global chemical engineering and the process industry to Frankfurt. Although still overshadowed by petrol, the biobased economy is getting ready to step out into the limelight.

EventEU

17.06.2015 At the BIO convention in Philadelphia, the biotech industry celebrates new gene and cell therapies, and hails its unlikely superheroes.

ResearchUKSwitzerland

16.06.2015 Northern Ireland’s biopharma Almac Discovery is partnering up with Roche subsidiary Genentech in a two-year joint research programme to discover and develop cancer treatments.

M&ANorwayFinlandSweden

12.06.2015 The high-potential cancer immunotherapy market is fiercely fought, and small companies have trouble making their mark. Nordic companies Targovax and Oncos have joined forces to create a Nordic immuno-oncology champion named Polaris.

BiofuelFinlandSwedenUK

10.06.2015 St1 Biofuels has expanded beyond the Finnish borders and opened a bioethanol plant in Sweden. The plant will convert leftovers and waste from bakeries to biofuel.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • SCANCELL HOLDINGS (UK)29.25 GBP7.93%
  • CELLECTIS (F)32.30 EUR7.31%
  • ALMIRALL (E)17.87 EUR7.26%

FLOP

  • TRANSGENE (F)3.99 EUR-14.56%
  • BAVARIAN NORDIC (D)39.72 EUR-5.61%
  • EUROFINS SCIENTIFIC (F)255.00 EUR-5.39%

TOP

  • PROTHENA PLC (IE)52.67 USD31.8%
  • VERONA PHARMA (UK)5.20 GBP22.4%
  • DBV Technologies (F)51.87 EUR21.8%

FLOP

  • OREXO (S)68.00 SEK-24.7%
  • NORDIC NANOVECTOR (N)26.90 NOK-23.6%
  • SCANCELL HOLDINGS (UK)29.25 GBP-23.5%

TOP

  • ADOCIA (F)67.19 EUR387.9%
  • 4SC (D)4.52 EUR352.0%
  • WILEX (D)3.64 EUR343.9%

FLOP

  • CHRONTECH PHARMA (S)0.02 SEK-77.8%
  • ACTIVE BIOTECH (S)8.60 SEK-70.3%
  • NEOVACS (F)1.12 EUR-67.0%

No liability assumed, Date: 30.06.2015