I. COMPLETED MERGERS AND ACQUISITIONS | |||||
Company Acquired* |
Acquired By Or Merged With* (Country; Symbol) |
Date Announced |
Date Completed |
Value (M)** |
Terms/Details |
|
| |||||
3-Dimensional Pharmaceuticals |
Johnson & Johnson |
1/16/03 |
3/28/03 |
$88 |
J&J acquired 3-Dimensional, paying cash for each of its 22.5M outstanding shares, for a total of about $88M |
|
|
||||
4C Biotech* |
Henogen SA* (Belgium) |
5/12/03 |
5/12/03 |
ND |
Henogen acquired 4C Biotech for an undisclosed amount |
|
|||||
Biosearch Italia |
Versicor Inc. (VERS) |
7/31/02 |
3/3/03 |
$260.7 |
Versicor acquired Biosearch for $260.7M in a stock swap; stock of the merged company will trade on Nasdaq under the symbol “VERS“ and on the Nuovo Mercato under the symbol “VER“ |
|
|
||||
Callisto |
Webtronics Inc. (OTC BB:WBTN) |
5/1/03 |
5/1/03 |
ND |
Webtronics issued about 17.3M common shares in exchange for Callisto's stock, and about 4.4M shares for Synergy's stock; both are now wholly owned subsidiaries of Webtronics, which now trades under Callisto on the Over-the-Counter Bulletin Board |
|
|||||
Chemicon |
Serologicals Corp. (SERO) |
2/11/03 |
4/8/03 |
$95 |
Serologicals acquired Chemicon and certain affiliated companies for $95M in cash, less Chemicon's outstanding debt |
|
|||||
Chienna BV* |
OctoPlus BV* (the Netherlands) |
2/26/03*** |
5/16/03 |
ND |
OctoPlus purchased Chienna for an undisclosed amount |
|
|||||
DNA |
Genaissance Pharmaceuticals Inc. (GNSC) |
4/1/03 |
5/15/03 |
$1.35 |
Genaissance acquired DNA Sciences for about $1.3M in cash |
|
|
||||
Eos |
Protein Design Labs Inc. (PDLI) |
2/4/03 |
4/7/03 |
$37.5 |
Protein Design Labs purchased Eos, issuing about 4.3M shares; the deal was originally valued at $37.5M |
|
|||||
ExperTech |
Boston Healthcare Associates Inc.* |
5/2/03 |
5/02/03 |
ND |
Boston Healthcare acquired ExperTech for an undisclosed amount |
|
|
||||
GeneFormatics |
Structural Bioinformatics Inc.* |
1/6/03 |
5/19/03 |
ND |
The companies merged, with SBI shareholders holding the majority of the new company called Cengent Therapeutics |
|
|||||
Genomic |
Genomic Solutions Inc. (subsidiary of Harvard Bioscience Inc.; HBIO) |
3/3/03 |
3/13/03 |
$8.3 |
Genomic Solutions acquired all of the assets of Genomic Instrumentation, doing business as GeneMachines, for about $8.3M in cash and the assumption of certain specified liabilities |
|
|
||||
HA North American |
Medicis Pharmaceutical Corp. |
3/10/03 |
3/10/03 |
$160 |
Medicis acquired all outstanding shares of HA North American Sales for about $160M, with $58.2M paid upon closing and the rest paid upon the achievement of certain milestones |
|
|||||
Interfacial |
Molecular Probes Inc.* |
4/16/03 |
4/16/03 |
ND |
Molecular Probes acquired Interfacial Dynamics for an undisclosed amount |
|
|
|
|||
MemRx Corp.* |
Sagres Discovery Inc.* |
4/2/03 |
4/2/03 |
ND |
Sagres acquired MemRx for an undisclosed amount |
|
|
|
|||
Technical and analytical |
ChromaDex Inc.* |
4/9/03 |
4/9/03 |
ND |
ChromaDex bought the technical and analytical services group of NaPro for an undisclosed amount |
|
|||||
Oncotherapeutics |
IBEX Technologies Inc. (Canada; TSE:IBT) |
5/7/03 |
5/8/03 |
$0.73 |
IBEX acquired Oncotherapeutics in a deal valued at $730,986 plus milestone payments |
|
|
||||
Procyon Biopharma |
- |
3/28/03 |
4/21/03 |
C$2.94 (US$1.99) |
Procyon purchased Pharmacor for about US$1.99M in an all-stock deal; the transaction was dependent upon a concurrent C$3.25M financing for Procyon by Pharmacor's current investors |
|
|
||||
PPL Therapeutics |
Regenecor Holdings Inc.* |
4/10/03 |
4/10/03 |
$1 |
Regenecor purchased PPL's xenograft, stem cell and polyclonal antibody research division for $1M |
|
|
||||
RiboTargets |
British Biotech plc (UK; BBIOY; LSE:BBG) |
3/21/03 |
4/22/03 |
ND |
British Biotech and RiboTargets merged, giving the combined company a market capitalization of £52M (US$81.3M); British Biotech shareholders own 50.01% and RiboTargets shareholders own 49.99% |
|
|||||
Scios Inc. |
Johnson & Johnson |
2/10/03 |
4/29/03 |
$2.4B |
Johnson & Johnson acquired Scios for $2.4B in cash, or $45 for each outstanding share |
|
|
||||
Semaia BV* |
Hybrigenics SA* (France) |
4/29/03 |
4/29/03 |
ND |
Hybrigenics acquired Semaia in an all-share transaction for an undisclosed amount |
|
|
||||
Synaptic |
H. Lundbeck A/S (Denmark) |
11/21/02 |
3/6/03 |
$121 |
The companies merged in a deal worth about $121M, or $6.50 in cash per share for Synaptic; Synaptic's shareholders approved the merger in February |
|
|
||||
TherImmune |
Gene Logic Inc. (GLGC) |
2/25/03 |
4/2/03 |
$52 |
Gene Logic acquired TherImmune, paying about $31M in cash, and issuing to TherImmune shareholders new Gene Logic common shares worth about $21M |
|
|||||
II. PENDING MERGERS AND ACQUISITIONS | |||||
Company To |
Acquiring Company* (Country; Symbol) |
Date Announced |
Expected Completion |
Value (M)** |
Terms/Details |
|
| |||||
Advanced |
IVAX Corp. (AMEX:IVX) |
5/27/03 |
ND |
ND |
Companies will merge; ATP shareholders would receive the number of outstanding shares of IVAX stock determined by multiplying the number of outstanding shares of ATP stock by 54 cents and dividing the result by the average closing price of IVAX's stock |
|
|||||
Ancile |
Mera Pharmaceuticals Inc. (OTC BB:MRPI) |
1/10/03 |
ND |
ND |
Mera plans to acquire Ancile by paying its shareholders with shares of Mera common stock equal to about 35% of Mera in exchange for their Ancile shares |
|
|
||||
Anosys Inc.* |
Epimmune Inc. (EPMN) |
2/13/03 |
ND |
$13.5 |
Epimmune plans to acquire Anosys in an all stock transaction; Epimmune will issue about 8.44M shares, valuing the deal at $13.5M; Epimmune will own 65% of the new company |
|
|||||
Antex Biologics Inc. (AMEX:ANX) |
BioPort Corp.* |
3/17/03 |
ND |
$3.6 |
BioPort plans to acquire all of Antex's assets for between $3M and $3.6M |
|
|||||
Bruker Daltonics |
Bruker AXS Inc. (BAXS) |
4/7/03 |
ND |
$103.6 |
Companies plan to merge, with Bruker AXS issuing one common share for 0.63 shares of Bruker Daltonics' common stock; the com- bined company will be named Bruker Biosciences Corp. |
|
|||||
Cell Pathways |
OSI Pharmaceuticals Inc. (OSIP) |
2/10/03 |
2Q:03 |
$32 |
OSI plans to acquire Cell Pathways in an all-stock deal valued at $32M; OSI will exchange 0.0567 shares of OSI for every share of Cell Pathways |
|
|
||||
Ciro International |
Advanced Bio/Chem Inc.* |
3/28/03 |
ND |
ND |
Advanced Bio/Chem plans to acquire Ciro in a reverse merger |
|
|
||||
Corvas International |
Dendreon Corp. (DNDN) |
2/25/03 |
2Q:03 |
$72.9 |
Dendreon plans to acquire Corvas in a $72.9M stock transaction; each Corvas common share will be exchanged for 0.45 shares of Dendreon common stock; Dendreon would own about 68.6% of the com- bined company, with Corvas shareholders holding the rest; Dendreon expects to issue about 12.4M shares |
|
|||||
Cureon A/S* |
Pantheco A/S* (Denmark) |
3/12/02*** |
ND |
ND |
Cureon and Pantheco plan to merge in a stock-based transaction |
|
|||||
Enzon |
NPS Pharmaceuticals Inc. (NPSP) |
2/20/03 |
2Q:03 |
$750 |
NPS is offering about $750M in stock for Enzon; NPS shareholders will receive a full share of the combined entity's common stock for each NPS share owned; Enzon shareholders will receive 0.7264 shares for each Enzon share; the combine company is valued at $1.6B |
|
|||||
Oligonucleotide operations |
Eurogentec SA* (Belgium) |
5/28/03 |
2Q:03 |
$1.4 |
Eurogentec plans to buy the assets and customer base of Epoch's specialty oligonucleotide business for $1.4M in cash |
|
|||||
GenomeVision business |
Agencourt Bioscience Corp.* |
2/25/03 |
ND |
ND |
Agencourt will acquire the genomic sequencing service business of Genome Therapeutics for an undisclosed amount; Genome Therapeutics will receive a percentage of revenues for two years from commercial and government customers transferred to Agencourt |
|
|||||
GenVec Inc. |
Diacrin Inc. (DCRN) |
4/15/03 |
3Q:03 |
$40.4 |
The companies plan to merge with each share of Diacrin being exchanged for 1.5292 shares of GenVec in a tax-free deal; GenVec shareholders would have 45.5% of the combined entity and Diacrin holders would have 54.5% |
|
|
||||
GlycoDesign |
Inflazyme Pharmaceuticals Ltd. (Canada; TSE:IZP) |
4/9/03 |
2Q:03 |
C$12.8 (US$8.7) |
Inflazyme plans to issue 22M shares to acquire the outstanding stock of GlycoDesign, making the deal worth US$8.7M |
|
|
||||
GTB |
Bavarian Nordic A/S (Denmark; CSE:BAVA) |
5/13/03 |
ND |
ND |
Bavarian Nordic plans to acquire GTB GenTherapeutika for an undisclosed amount |
|
|||||
Kiadis BV* (the Netherlands) |
Biofrontera Pharmaceuticals GmbH*(Germany) |
2/18/03 |
ND |
ND |
Biofrontera and Kiadis plan to merge into a single entity called Aliga Pharmaceuticals AG, which will be based in Germany with subsidiaries in Germany and the Netherlands |
|
|
||||
Oxford |
Celltech plc |
4/11/03 |
ND |
£101.4 (US$173) |
Celltech made a bid to acquire Oxford GlycoSciences; the bid is worth US$173M |
|
|||||
Plexus Vaccine |
SIGA Technologies (SIGA) |
4/1/03 |
ND |
ND |
SIGA plans to buy Plexus Vaccine for an undisclosed number of shares |
|
|||||
PowderJect Pharmaceuticals plc (UK; LSE:PJP) |
Chiron Corp. (CHIR) |
5/19/03 |
ND |
£542 (US$878) |
Chiron plans to acquire PowderJect by paying cash for all of the outstanding shares, valuing the deal at $878M |
|
|||||
Quintiles |
Pharma Services Holding Inc.* |
4/11/03 |
ND |
$1.7B |
Pharma Services will acquire Quintiles, paying its shareholders $14.50 per share in cash; the value is based on 118.2M shares outstanding |
|
|||||
Salix |
Axcan Pharma |
4/10/03 |
2Q:03 |
$224.7 |
Axcan increased its cash tender offer for all of Salix's outstanding shares to $10.50 per share from $8.75 per share; the offer was raised in May after the board rejected the prior offer; later in May, the board rejected the revised offer |
|
|||||
III. TERMINATED MERGERS AND ACQUISITIONS | |||||
Company To Be Acquired* (Country; Symbol) |
Acquiring Company* (Country; Symbol) |
Date Announced |
Termination Date |
Value (M)** |
Terms/Details |
|
| |||||
Lavipharm |
Zonagen Inc. (ZONA) |
10/31/02 |
3/28/03 |
$9.6 |
Zonagen was to issue Lavipharm about 7.7M shares at the close of the proposed merger, plus it was to issue 2M shares to Lavipharm to cover $10M in debt owed by Lavipharm; the merger agreement was terminated |
|
|
||||
Oxford GlycoSciences plc (UK; OGSI; LSE:OGS) |
Cambridge Antibody Technology Groupplc (UK; CATG; LSE:CAT) |
1/23/03 |
ND |
£109.6 (US$177) |
Cambridge Antibody Technology planned to acquire Oxford GlycoSciences in an all-share deal initially valued at £109.6M (US$177M); the deal did not go through after CAT's share price dropped significantly |
|
|||||
SIRTeX Medical Ltd. (Australia; ASX:SRX) |
Cephalon Australia Pty. Ltd. (subsidiary of Cephalon Inc.; CEPH) |
2/11/03 |
5/28/03 |
$161 |
Cephalon Australia planned to buy SIRTeX for A$4.85 (US$2.85) cash for each ordinary share; the acceptance period of the bid expired in May with only 88% of SIRTeX shares tendered; the bid was contingent upon at least 90% of SIRTeX shares being tendered |
|
|||||
|
| |||||
Notes: | |||||
# This chart is intended to include not only mergers and acquisitions of entire businesses, but also of divisions or subsidiaries of those businesses, where appropriate. It does not include acquisitions of single products or of manufacturing facilities and plants. | |||||
For those deals that are pending, and for which the acquiring company is issuing stock, the value of the transaction has been calculated based on the closing price on the day prior to the first announcement. For those deals that have been completed, and for which the acquiring company is issuing stock, the final value has been calculated based on the closing price on the date that the merger's completion was announced. | |||||
* Private companies are indicated with an asterisk. | |||||
** Conversions of non-U.S. currencies are calculated using the rate on the date the transaction closed, or for pending deals, on the date it was announced. | |||||
*** Denotes the date the item ran in BioWorld International. | |||||
ND = Not disclosed, reported and/or available. | |||||
Unless otherwise indicated, shares are traded on Nasdaq. | |||||
ASX = Australian Stock Exchange; AMEX = American Stock Exchange; CSE = Copenhagen Stock Exchange; LSE = London Stock Exchange; NYSE = New York Stock Exchange; OTC BB = Over-the-Counter Bulletin Board; TSE = Toronto Stock Exchange. | |||||
