21.07.2014 - Abbvie’s tenacious pursuit of British rival Shire is finally paying off: The two companies have unveiled their transatlantic merger worth £32bn (€40bn).
It is the biggest takeover of this year so far: Abbvie is buying UK's specialty pharma company Shire for €40bn. The merger was the subject of a two month-long courtship, and reluctant Shire rejected four previous offers of its US suitor. Under the terms of the agreement, Abbvie will pay £52.48 per Shire share, compounded of £24.44 in cash and 0.8960 New AbbVie Shares. The transaction is expected to be completed in the fourth quarter of 2014.
The combined company will be one of pharma’s giants: at the moment it would have 30.000 employees generating close to £15bn in annual sales. Richard Gonzalez, Chairman of the Board and CEO of Abbvie, commented: "By combining Abbvie and Shire, we’re creating a unique, diversified biopharmaceutical company. The combined company would benefit from a best-in-class product development platform, a stronger pipeline and more enhanced R&D capabilities."
15.07.2014 British specialty pharma company Prostrakan is handing over £230m for Archimedes Pharma Limited, a company that brings its lead product Pecfent and its proprietary drug delivery technology platform into the deal.
11.07.2014 Among the seven newly launched Joint Technology Initiatives (JTI) of Horizon2020 are two with deep roots in biotech: IMI is going into its second round while the newly established Bio-based Industries partnership invests in bioeconomy.
04.07.2014 Genentech, a member of Swiss Roche Group, is set to acquire US-biotech Seragon Pharmaceuticals Inc. With the move, Genentech will obtain the rights to investigational breast cancer treatments.
03.07.2014 Nicox S.A. is stretching beyond the European market: The French eye health specialist is set to acquire Aciex Therapeutics Inc., a US-based pharma company with several ophthalmic therapeutics nearing market maturity.
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