23.10.2012 - Dutch pharma company Octoplus faces a daunting offer from Indian Dr. Reddy’s Laboratories. Most shareholders and both boards back the sale plan.
Dr. Reddy’s Laboratories Ltd from Hyderabad ties itself more strongly to Europe. Just this summer, Dr. Reddy’s launched the plan with German Merck from Darmstadt to co-develop a portfolio of biosimilar monoclonal antibodies (mAbs) in oncology. Now, the Indian API and generics producer is about to acquire the issued as well as the outstanding shares of Octoplus N.V. from Leiden. Dr. Reddy’s says it holds an irrevocable commitment from shareholders representing more than 50% of Octoplus shares. In addition, the Executive Board and Supervisory Board of the Dutch small pharma enterprise favour the transaction and urge the remaining shareholders to accept it. The offer is €27.39m in cash, representing all shares. This means a premium of 30% over the closing price of Octoplus’ end of day evaluation on 19 October 2012. OctoPlus’ identity and head office will be maintained. The intention of the partners is to enter into a business collaboration agreement for investigational formulation research.
Vice-Chairman and CEO of Dr. Reddy’s, G. V. Prasad, explains the rationale behind the offer: „As we globalise our R&D efforts, we are looking forward to build a research base in Leiden (Netherlands). The acquisition helps us ramp up our technology capabilities in drug delivery.“ Octoplus provides controlled release drug delivery technologies and cGMP manufacturing of the final product. With five new customers and three new projects with existing clients, the company increased revenues by 29% to €3.5m during the first half year of 2012 compared to €2.7m in H1/2011 .
19.11.2014 It’s not every day that a company is pushed into the top ten of its sector, but that day has come for Actavis. Christmas came early for the new pharma giant after completing a US$66bn (€53bn) takeover battle for the Botox manufacturer Allergan.
18.11.2014 Merck KGaA and US rival Pfizer have signed a immuno-oncology alliance worth billions: Merck will share the development and commercialisation of its cancer antibody with its US partner – for €2.3bn.
14.11.2014 Cosily coinciding with World Diabetes Day on 14th November, French biopharma Les Laboratories Servier has struck a US$1bn deal with US pharma Intarcia Therapeutics for the exclusive rights to Intarcia’s unprecedented therapy for type 2 diabetes.
12.11.2014 Glitz and glamour are not words often used to describe science and mathematics. But once a year, celebrities from the science and showbiz world come together at the Breakthough Prizes, a glitzy television bash that honours scientists for their achievements. French life scientist Emmanuelle Charpentier was among this year’s winners.
04.11.2014 Galecto Biotech has entered an agreement with Bristol-Myers Squibb for the acquisition of the company and its lead drug, providing the Swedish company with the potential of reaching over US$400m.