News

Octoplus soon in Indian hands
Enlarge image

BusinessNetherlands

Octoplus soon in Indian hands

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 .

© eurobiotechnews.eu/ml

http://www.european-biotechnology-news.com/news/news/2012-04/octoplus-soon-in-indian-hands.html

Open InnovationFrance

03.05.2016 Ipsen is strengthening its ties to long-time development partner Oncodesign, a Dijon-based cancer treatment biotech. The French pharma is handing over the pre-clinical pharmacology for its oncology research programmes to Oncodesign.

FinancingSwitzerlandEU

29.04.2016 Swiss bank Group UBS has raised US$471m (€412m) for the UBS Oncology Impact Fund, which was set up to invest in early-stage cancer treatments. The money raised by the fund, nearly half of which comes from investors in Asia, is the largest amount ever raised for such a cancer investment fund.

Industry reportGermany

27.04.2016 More revenue, more jobs, more financing, more R&D expenditure – all signs point towards sustainable growth in the German biotech sector. These are the results of the most recent company survey 2016, published by biotechnologie.de. The report was once again conducted alongside the biotech standards defined by the organisation for economic cooperation and development (OECD).

Clinical ResearchFrancePortugal

21.04.2016 An expert panel’s final report on the fatal drug trial earlier this year in France states that the death of one of the participants was most likely caused by the drug’s toxicity and not by any violation of the rules.

Immuno-oncologyNetherlandsBelgium

21.04.2016 For up to US$685m (€606m), Dutch ArgenX has outlicensed its human antibody programme ARGX-115 to AbbVie. The pre-clinical immuno-oncology candidate targets a protein believed to contribute to immunosuppressive effects of T-cells.

RegulatorySwitzerlandEU

20.04.2016 The US government is forking out up to US$100m to get Basilea Pharmaceutica’s broad-spectrum antibiotic ceftobiprole on the US market. In the EU, ceftobiprole is already available.

Immuno-oncologyUK

19.04.2016 British drug developer Heptares Therapeutics and mAb maker Kymab Ltd have partnered up in yet another immuno-oncology collaboration. The companies plan to discover antibody meds targeting a superfamily of receptors.

FinancingSwitzerlandFranceEUGermanyDenmark

15.04.2016 Not every company is put off by the current stock market climate. Swiss biopharma company GeNeuro has gone public at Euronext Paris, raising €33m in the process. Others, meanwhile, have to find different ways to raise money.

Event ReviewSwitzerlandBelgiumEU

13.04.2016 Despite political disturbances, 2015 was a good year for the biotech scene in Switzerland. Net sales increased by 5.1% to CHF5,133m and 400 additional people found jobs in the sector. As usual, the new numbers were presented at the annual Swiss Biotech Day – which set new records as well.

FinancingGermanyNetherlandsEU

12.04.2016 German-Dutch life science investment specialist Forbion Capital Partners has raised more than €180m for its venture capital fund Forbion Capital Fund III. Once more the money will primarily go to European start-ups.

Quick news provided by GlobeNewswire

View more stock news

Events

All Events

Partner-Events

München

BioVaria 2016

Berlin (GER)

XIV. BIONNALE 2016

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • BIOTIE THERAPEUTICS (FI)0.27 EUR92.86%
  • THERAMETRICS (CH)0.03 CHF50.00%
  • PLETHORA (UK)3.38 GBP12.67%

FLOP

  • EVOCUTIS (UK)0.05 GBP-16.67%
  • BAVARIAN NORDIC (D)33.10 EUR-8.56%
  • SARTORIUS (D)244.55 EUR-6.30%

TOP

  • SYNAIRGEN (UK)35.50 GBP47.9%
  • BIOFRONTERA (D)3.19 EUR36.9%
  • SWEDISH ORPHAN BIOVITRUM (S)15.24 USD27.5%

FLOP

  • EVOCUTIS (UK)0.05 GBP-28.6%
  • SERODUS (N)1.48 NOK-27.5%
  • NEUROVIVE PHARMACEUTICAL AB (S)6.25 SEK-26.5%

TOP

  • CHRONTECH PHARMA (S)0.34 SEK3300.0%
  • KARO BIO (S)29.00 SEK1833.3%
  • NICOX (F)8.59 EUR352.1%

FLOP

  • NEUROVIVE PHARMACEUTICAL AB (S)6.25 SEK-88.0%
  • BB BIOTECH (D)45.22 EUR-83.5%
  • CYTOS (CH)0.26 CHF-80.3%

No liability assumed, Date: 03.05.2016