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

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

  • PROTHENA PLC (IE)68.70 USD9.45%
  • HYBRIGENICS (F)1.63 EUR9.40%
  • PHARMING (NL)0.34 EUR6.25%

FLOP

  • SERODUS (N)2.60 NOK-15.58%
  • ZELTIA (E)3.69 EUR-8.44%
  • IXICO (UK)33.00 GBP-7.04%

TOP

  • DBV TECHNOLOGIES (F)77.15 EUR48.4%
  • IXICO (UK)33.00 GBP46.7%
  • ADOCIA (F)90.05 EUR40.7%

FLOP

  • BIOTEST (D)25.67 EUR-63.3%
  • CHRONTECH PHARMA (S)0.01 SEK-50.0%
  • BIOTECH PHARMACON (N)9.35 NOK-46.0%

TOP

  • ADOCIA (F)90.05 EUR543.7%
  • FORMYCON (D)27.30 EUR298.5%
  • PROTHENA PLC (IE)68.70 USD295.5%

FLOP

  • CHRONTECH PHARMA (S)0.01 SEK-88.9%
  • NEOVACS (F)1.05 EUR-70.1%
  • BIOTEST (D)25.67 EUR-68.7%

No liability assumed, Date: 28.07.2015