I. COMPLETED MERGERS AND ACQUISITIONS

Company Acquired* (Country; Symbol)

Acquired By Or Merged With* (Country; Symbol)

Date
Announced

Date
Completed

Value
(M)***

Terms/Details


Apothogen
Inc.*

IntraBiotics Pharmaceuticals Inc. (IBPI)

4/25

4/25

$1.8

IntraBiotics acquired Apothogen for about 450,000 shares of stock, or $1.8M

BioDisplay Technologies
Inc.*

Abbott Laboratories Inc. (NYSE:ABT)

4/1

4/1

$7

Abbott acquired the virtual company BioDisplay Technologies Inc. for $7M; it gained a worldwide exclusive license to yeast display technology from the University of Illinois at Urbana-Champaign through the acquisition

COR Therapeutics
Inc. (CORR)

Millennium Pharmaceuticals Inc. (MLNM)

12/6

2/12

$2B

Millennium acquired COR in a stock exchange worth $2B; COR shareholders received 0.9873 shares of Millennium stock for each COR share

Drug Royalty
Corp. Inc.

(Canada; TSE:DRI)

Inwest
Investment Ltd.*

3/11

4/24

C$133
(US
$85.1)

Inwest outbid Cambridge Antibody Technology Group plc, paying C$133M in cash to CAT's offer of C$126M (US$79.6) in shares

Genomica Corp. (GNOM)

Exelixis Inc.
(EXEL)

11/19

1/3

$110

Exelixis bought Genomica for $110M in a stock-for-stock transaction; Genomica is now a wholly owned subsidiary of Exelixis

Oligonucleotides division of Genset SA (France; GENXY)

Proligo division
of Degussa AG (Germany)*

2/21

4/9

EUR25
(US
$21.8)

Proligo purchased the division from Genset, with Genset retaining a minority interest in certain Asian subsidiaries

Maret Pharma-
ceuticals
Inc.*

Essential Therapeutics Inc. (ETRX)

3/1

3/12

$6.8

Essential acquired Maret in a stock-for-stock exchange in which Essential issued up to 2M shares of common stock, valuing the acquisition at $6.8M

MediChem Life Sciences Inc. (MCLS)

DeCode genetics Inc. (DCGN)

1/8

3/18

$83.6

DeCode bought MediChem in a stock swap worth about $83.6M; MediChem's shareholders received 0.3099 shares of newly issued DeCode stock for each share of MediChem

Paralex Inc.*

Cardiome Pharma Corp. (Canada; TSE:COM)

12/21

3/11

US
$15M

Cardiome acquired Paralex in exchange for 32.8M units, worth as much as US$15M

Phytera Ltd.*
(UK)

Galileo Laboratories Inc.*

3/27

3/27

ND

Galileo acquired Phytera Ltd. and the marine microbial libraries of Phytera Inc. with cash and Galileo stock; financial details were not disclosed

Point
Therapeutics
Inc.*

HMSR Inc.
(OTC BB:HMSR)

11/15

3/15

$2.97

HMSR merged with Point Therapeutics, with each outstanding share of Point being converted into the right to receive about 4.16168 shares of HMSR common stock; a total of 9.28M shares were issued; Point is now a wholly owned subsidiary of HMSR, and the merged company's stock symbol has changed to OTC BB:POTP

Tibotec-Virco
NV* (Belgium)

Johnson & Johnson

3/22

4/18

$320

Johnson & Johnson acquired Tibotec-Virco for $320M in cash and debt

Xeragon Inc.*

Qiagen NV (the Netherlands; QGENF; Neuer Markt:QIA)

4/18

4/18

US$8

Qiagen acquired Xeragon, issuing about 564,000 shares of stock, valued at about US$8M; Qiagen also could make an additional payment of up to US$1.2M in cash or stock in December 2003 upon reaching certain milestones

Biopool hemostasis division of Xtrana Inc. (XTRN)

Trinity Biotech
plc (Ireland; TRIB)

11/14**

2/1

US$6.25

Trinity acquired the assets and goodwill of the Biopool hemostasis division of Xtrana in a US$6.25M cash deal, comprising a US$3.6M payment up front and additional payments over 36 months

II. PENDING MERGERS AND ACQUISITIONS

Company
To Be Acquired*
(Country; Symbol)

Acquiring Company* (Country; Symbol)

Date
Announced

Expected
Completion

Value
(M)***

Terms/Details


Amersham Biosciences (subsidiary of Amersham plc; UK)

Amersham plc (UK)

3/12

ND

704
(US
$1B)

Amersham plans to purchase the shareholding held by Pharmacia Corp. in Amersham Biosciences, giving it full ownership; Pharmacia's stake is 45%; Amersham will pay US$1B in cash for the stake

Arcos BioScience Inc.*

CyThera Inc.*

4/10

4Q:02

ND

The companies signed a binding letter to merge; no further details were disclosed

Biotie Therapies Oyj* (Finland)

Oy Contral Pharma Ltd.*
and its subsidiary, Carbion Inc.*

4/24**

2Q:02

ND

The companies will merge provided Contral Pharma successfully raises a minimum of EUR15M (US$13.5) in a private placement by June

Collateral Therapeutics
Inc. (CLTX)

Schering AG (Germany)

3/20

ND

$140

Schering plans to acquire Collateral in a $140M stock-for-stock acquisition; each Collateral share will be converted into the right to receive 0.1847 of Schering American depositary receipts

Digene Corp. (DIGE)

Cytyc Corp. (CYTC)

2/19

2Q:02

$554

Cytyc plans to acquire Digene by issuing 23M shares of common stock and paying $76.9M in cash for all outstanding equity of Digene

Elasticated Adhesive Technologies
Inc.*

Galaxy Investments Inc. (OTC BB:GAXI)

3/7

2Q:02

$2.5

Galaxy executed a letter of intent to acquire 100% of the issued and outstanding capital stock of E.A.T. in exchange for the issuance of 10M restricted common shares and up to 10,000 preferred common shares of Galaxy; Galaxy also will undertake a private placement of equity of $2.5M in conjunction with the acquisition

Global Genomics Capital Inc.*

CytRx Corp. (CYTR)

2/11

ND

$6.28

CytRx plans to merge with Global Genomics in a deal valued at $6.28M; CytRx will acquire all outstanding shares and rights to acquire shares of capital stock of Global Genomics by issuing a maximum of 9.963M shares of its common stock

Glyko Biomedical Ltd. (Canada; OTC BB:GLYK; TSE:GBL)

BioMarin Pharmaceutical Inc. (BMRN)

2/7

ND

$142.4

BioMarin plans to acquire all of the outstanding shares of Glyko; Glyko's common shareholders will be entitled to receive 11.37M shares of BioMarin

Immunex Corp. (IMNX)

Amgen Inc. (AMGN)

12/17

4Q:02

$16B

Amgen intends to acquire Immunex by exchanging each Immunex share for 0.44 shares of Amgen, plus $4.50 in cash per share; Amgen's shareholders will own about 81% of the combined company

Reliant Pharmaceuticals LLC*

Alkermes Inc. (ALKS)

3/21

ND

$934

Alkermes plans to acquire Reliant in a stock deal worth about $934M; Alkermes will issue about 31.1M shares

SIGA Technologies
Inc.
(SIGA)

Allergy Therapeutics Holdings Ltd.* (UK)

3/11

ND

ND

The companies plan to merge in a stock-for-stock deal; shareholders of each company will own 47.5 percent of the combined company, while Elan Corp. plc will own 5 percent

Synapse Technologies
Inc.* (Canada)

BioMarin Pharmaceutical Inc. (BMRN)

1/14

2Q:02

$10.2

BioMarin plans to buy Synapse for about $10.18M by exchanging 885,275 shares of its common stock; BioMarin also will make payments of up to $5.1M in either cash or stock upon reaching certain milestones


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. The chart may include some mergers and acquisitions that were completed before Feb. 28, but that were not listed in the previous chart as completed.

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.

ND = Not disclosed, reported and/or available.

Unless otherwise indicated, shares are traded on Nasdaq; NYSE = New York Stock Exchange; OTC BB = Over the Counter Bulletin Board; TSE = Toronto Stock Exchange

* Private companies are indicated with an asterisk.

** Denotes the date the item ran in BioWorld International.

*** 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.

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