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

AntibodiesDenmarkNetherlands

22.05.2015 Dutch arGEN-X and Danish LEO Pharma are pairing up to develop antibody-based treatments for the chronic inflammation that causes many skin conditions.

M&ANetherlandsGermanyEU

12.05.2015 US pharma is coming to European biotech to fill their pipeline. Pfizer is paying €77.5m for an option on Dutch AM-Pharma, while Juno Therapeutics acquired German biotech Stage Cell Therapeutics for around €72m.

Rare diseasesItalyGermanyPoland

15.05.2015 Rome-based pharmaceutical group Sigma-Tau has sold its blood cancer drug programme Oncaspar to US company Baxter, who aims to spin out its biopharma business.



SurveyGermany

06.05.2015 More revenue, more staff, more funding: in the German biotech industry, all signs are pointing towards growth.

M&AUKSweden

18.05.2015 Double deal for allergy: UK’s speciality biopharma Circassia is boosting its asthma pipeline with the acquisition of Swedish asthma specialist Aerocrine as well as fellow British Prosonix.

FinancingUK

20.05.2015 The Scottish Government has announced it will double the amount of funds for rare diseases. The New Medicines Fund that was created last year for this purpose will be increased to £80m (€112m).

M&ASwitzerland

04.05.2015 Swiss crop chemical maker Syngenta AG is in talks with US company Monsanto to discuss a possible merger, insiders say.

BiofuelsEU

30.04.2015 The European Parliament has given the go-ahead on a new law limiting the use of harmful crop-based biofuel in the transport sector. The decision marks a breakthrough in the EU’s approach to biofuels.

FinancingSwitzerlandUK

29.04.2015 Biopharma start-up CRISPR Therapeutics has raised US$64m to hurry the new CRISPR/Cas9 technology to the clinic.

Events

All Events

Partner-Events

Frankfurt am Main (DE)

ACHEMA 2015

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • BASILEA133.60 CHF4.70%
  • WILEX4.20 EUR3.45%
  • STRATEC BIOMEDICAL48.52 EUR3.23%

FLOP

  • MEDIGENE8.58 EUR-4.88%
  • PAION2.51 EUR-4.56%
  • CYTOS0.63 CHF-3.08%

TOP

  • 4SC4.65 EUR257.7%
  • SYNGENTA422.00 CHF28.3%
  • SARTORIUS169.65 EUR18.6%

FLOP

  • CYTOS0.63 CHF-37.6%
  • MEDIGENE8.58 EUR-33.2%
  • CO.DON2.89 EUR-8.3%

TOP

  • WILEX4.20 EUR418.5%
  • CYTOS0.63 CHF350.0%
  • 4SC4.65 EUR322.7%

FLOP

  • MOLOGEN4.92 EUR-54.4%
  • BIOFRONTERA2.30 EUR-24.1%
  • CO.DON2.89 EUR-21.3%

No liability assumed, Date: 24.05.2015