Sector News

UCB, Advent, Avista End Acquisition Agreement

December 17, 2014
Life sciences
Belgian pharmaceutical company UCB SA (UCB.BT), Advent International and Avista Capital Partners ended an acquisition agreement that would have seen Advent and Avista buy UCB’s U.S.-based speciality generics subsidiary for $ 1.5 billion, the company said in a press release.
 
UCB said it still plans to divest the generics unit, Kremers Urban Pharmaceutical Inc. It said the decision to terminate the acquisition agreement, which was signed last month, was a result of an “unexpected conflict” between the timing of the deal and a regulatory process launched in the U.S.
 
On Nov. 14, Kremers Urban said it had been informed by the U.S. Food and Drug Administration that the agency wanted an additional study on one of the company’s products–the methylphenidate hydrochloride extended-release (ER) tablet.
 
“While we are working on clarifying the situation around methylphenidate ER we will continue the divestiture process for Kremers Urban,” said Detlef Thielgen, Chief Financial Officer of UCB.
 
UCB said Tuesday’s announcement doesn’t impact the company’s most recent 2014 financial outlook, with the firm contining to expect total revenue of EUR3.15 billion-EUR3.25 billion ($3.94 billion-$4.07 billion) and underlying profits of EUR590 million to EUR620 million.
 
UCB’s shares closed 0.6% higher at EUR64.06.
 
By Laurence Norman
 
Source: Dow Jones Business News

comments closed

Related News

May 4, 2024

Novartis acquires Mariana in $1.75bn deal to strengthen radioligand portfolio

Life sciences

Novartis will acquire Mariana’s lead candidate MC-339, a radioligand therapy (RLT) designed to target small-cell lung cancer. Last year, Mariana had raised $175m in a Series B round from several funds and pharma giant Eli Lilly.

May 4, 2024

Novo Nordisk aims for market domination, boasts $1.5bn obesity sales in Q1

Life sciences

The company’s aspiration to expand the use of its obesity products to cardiovascular indications has been successful. In March, its blockbuster drug Wegovy was approved by the US Food and Drug Administration (FDA) for reducing the risk of cardiovascular diseases in obese or overweight adults.

May 4, 2024

Ono Pharmaceutical acquires cancer-focused biopharma Deciphera for $2.4bn

Life sciences

Massachusetts-based Deciphera brings to the table an extensive kinase inhibitor pipeline, kinase drug discovery expertise, and a strong commercial and sales platform in the US and European markets that is meant to advance Ono’s capabilities and presence in the oncology space.

How can we help you?

We're easy to reach