Large pharmaceutical companies behind the acquisition of biotechnology companies
And the U.S. Bristol-Myers Squibb Company (BMS), respectively for the proposed on Genentech Inc. (Genentech) and Imclone acquisition proposal, which is Pharmaceutical Industry Share the results of the key events of biotechnology. Proposals in the two acquisitions, the Swiss Roche's offer the most stunned, on the one hand is the high bid to reach 43.7 billion U.S. dollars, on the other hand test whether or Genentech Inc. in advance of Wall Street are without warning?? Genentech CEO, has just In the Roche proposal at the public bid hours before he heard the news.
Table 1 case of large biotech acquisitions
Company Name (location) the purchaser / purchase date of the purchase price per share price premium
Chiron (California) Novartis (Switzerland) / April 2006 4523% $ 5.1 billion
MedImmune (Maryland) AstraZeneca (UK) / June 2007 5853% $ 15.6 billion
Millennium (Massachusetts) Takeda Pharmaceutical (Japan) / May 2008 2553% $ 8.8 billion
Genentech (California) Roche (Switzerland) / proposed 43.7 billion U.S. dollars $ 898.80%
ImClone (New York), Bristol-Myers Squibb (USA) / proposed $ 4.5 billion in 6023%
However, the acquisition of BMS proposal mooted for several years. Imclone has previously become a desk fish: In 2006, hostile M & A company who received the infamous CarlIcahn Imclone's board of directors in control of the company to put the company attitude to Imclone priced to sell, although the only Road eventually there is no suitable buyers. However, since the Imclone Inc. and Genentech Inc. has a large traditional medicine Pharmaceutical companies Industry to maintain effective and cooperative relations for many years?? BMS and Imclone began in 2001 of drug Erbitux marketing of cooperation, the cooperation of Roche and Genentech Inc. is close to 20 years?? Why BMS and Roche began on Imclone companies and Genentech Inc. eyebrows then?
Roche surface causes the acquisition proposal
On Roche, the company's acquisition of the Genentech more focused on their long-term growth rather than short-term profits. Previously, Roche is already the largest shareholder of Genentech Inc., wholly owned Genentech Inc. Roche year only to bring 1.7 billion Swiss francs (1.4 billion U.S. dollars) of net income, the profit attributable to holders of Genentech currently not holding the rest of the company Roche 44% of the shares of equity people. While Roche is estimated combined annual benefits will be reduced from 750 million to 850 million U.S. dollars of the cost, but the figures themselves can not explain Roche Genentech's encroach on the move.
Many subtle factors
The contrary, a variety of factors that stimulate the subtle dynamics of Roche determined to expand on the acquisition of Genentech. One reason is the weak dollar?? Roche is currently the euro and Swiss franc on hand a large number of replacement options dollar. The second reason is an agreement signed by Roche and Genentech offer, given Roche outside the United States enjoyed in the company's product development pipeline from Genentech of any product options. And the options will expire in 2015, prices will rise to the high renewal, public bidding, if Genentech Inc. is more expensive.
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