I. COMPLETED MERGERS AND ACQUISITIONS

Company Acquired** (Country; Symbol)

Acquired By Or Merged With (Country; Symbol)

Date Announced

Date Completed

Value (M)***

Terms/Details

Advanced Biotechnologies Ltd.(UK)*

Apogent Technologies Inc. (NYSE:AOT)

4/11

4/11

ND

Apogent acquired Advanced Biotechnologies, which logged sales revenues for 2000 of about $21M

Armstrong Pharmaceuticals (division of Celltech Manufacturing Inc.)

Andrx Corp. (ADRX)

2/12

4/2

$18

Andrx acquired Armstrong for $18M in cash

Canberra Industries (unit of Packard BioScience Co.; PBSC)

Cogema (France)*

11/29

3/1

$170

Packard sold Canberra to Cogema for $170M; Canberra will remain at its Connecticut headquarters

Display Systems Biotech A/S (Denmark)*

NeuroSearch A/S (Denmark)*

3/21

3/21

DKK29 (US$3.4)

NeuroSearch acquired Display Systems for US$3.4M; Display Systems now will be called Azign Bioscience A/S

Lisfarma Importacao, Exportacao e Comercio Ltda. (Brazil)*

Genzyme General (division of Genzyme Corp.; GENZ)

4/2

4/2

$1.1

Genzyme acquired Lisfarma for about $1.1M

Myelos Corp.*

Bio-Technology General Corp. (BTGC)

2/22

3/20

$35

BTG made a $14M cash payment and tendered $21M in equity, or about 2.3M BTG shares; an additional payment of $30M in cash and stock depends upon regulatory approval for Myelos' Prosaptide for neuropathic pain

NuCycle Therapy Inc.*

Integrated Health Technologies Inc. (IHTC)

3/5

3/5

ND

Integrated Health acquired NuCycle for an undisclosed amount

PanVera Corp.*

Aurora Biosciences Corp. (ABSC)

11/17

3/1

$86

PanVera stockholders received about 1.34 shares of Aurora stock for each share of PanVera stock, and Aurora issued a total of 1.9M shares

Primedica Corp. (unit of Genzyme Transgenics Corp.; GZTC)

Charles River Laboratories International Inc. (NYSE:CRL)

2/7

2/27

$52

Charles River made a $26M cash payment to GTC, offered $16.5M in restricted stock and assumed $9.5M in debt for the acquisition of Primedica

ProBio Inc.*

Pharming Group NV (the Netherlands; Easdaq:PHAR)

11/28

4/3

$4

Pharming acquired ProBio for at least US$4M in milestone payments over the next two years; in addition, Pharming will transfer shares to the former ProBio shareholders at the share price of EUR12.52 (US$11.17)

Sensus Drug Development Corp.*

Pharmacia Corp. (NYSE:PHA)

3/7

3/7

ND

Pharmacia, which acquired 20% of Sensus in 1999, returned to acquire the rest under an option that was part of the original deal

Trega Biosciences Inc. (TRGA)

LION bioscience AG (Germany; LEON)

12/27

3/15

$12.25

LION acquired Trega by issuing about 500,000 American depositary shares

Virco Group NV (Belgium)*

Tibotec Group NV (Belgium)*

1/19

3/14

ND

The companies merged and the new company will be known as Tibotec-Virco NV

Xenova Group plc (UK; XNVA)

Cantab Pharmaceuticals plc (UK; CNTBY)

2/20

4/9

#124 (US$179)

The companies merged in an all-share deal valued at US$179M; Cantab investors will receive 11 new Xenova shares for every seven Cantab shares

II. PENDING MERGERS AND ACQUISITIONS

Company To Be Acquired** (Country; Symbol)

Acquiring Company (Country; Symbol)

Date Announced

Expected Completion

Value (M)***

Terms/Details

Allergan Allergan Specialty Therapeutics Inc. (ASTI)

Allergan Inc. (NYSE:AGN)

4/16

4/20

$71

Allergan has exercised its option to purchase all of the the 3.273M shares of Specialty Therapeutics at $21.70 per share

BioChem Pharma Inc. (Canada; BCHM)

Shire Pharmaceuticals Group plc (UK; SHPGY)

12/11

2Q:01

$4B

BioChem shareholders will get $37 worth of Shire consideration shares per BioChem share, provided the average closing price of a Shire American depository share is between $47.20 and $70.80 during a 15-trading day period; Canadian authorities would not approve the merger as of 3/29; BioChem revised procedures for the merger on 4/5

Cooke Pharma Inc.*

United Therapeutics Corp.

12/18

1Q:01E

$4.7

United's subsidiary, Unither Pharmaceuticals Inc., is acquiring all the assets of Cooke Pharma for 300,000 shares of stock, which were valued at $4.7M as of 12/18

Cytomatrix LLC*

Select Therapeutics Inc. (OTC BB:SLPU)

8/30

1Q:02E

ND

Select can acquire Cytomatrix in a tax-free exchange of shares from Feb. 1, 2002, to July 31, 2002

Eligix Inc.*

BioTransplant Inc. (BTRN)

12/11

1H:01

$55

BioTransplant will issue 6.6M shares of its common stock to Eligix shareholders

Epigenomics AG* (Germany)

ORCA Biosciences Inc.*

12/18

1Q:01

ND

Epigenomics said it will merge with ORCA and the transaction has been approved by both companies' boards of directors

Fundamental Forces Corp.*

Genomic Solutions Inc. (GNSL)

10/19

ND

ND

Genomic Solutions said it signed a six-month option agreement to purchase all outstanding shares of Fundamental, in exchange for stock and cash

Intellivax International Inc. (Canada)*

ID Biomedical (Canada; TSE:IDB; IDBE)

3/27

ND

C$20 (US$12.75)

ID Biomedical will issue 4M shares, giving Intellivax about 13% ownership of the combined company

iviGene Corp.*

XTL Biopharmaceuticals Ltd. (Israel; LSE:XTL)

3/9

ND

$21

XTL paid $1M for 20% of iviGene and it has the option to acquire the rest for $4M in cash and $16M in XTL shares

MultiCell Associates Inc.*

Exten Industries Inc. (OTC BB:EXTI)

4/2

ND

ND

Exten signed a letter of intent to acquire its research and development partner, MultiCell, through a cash and stock transaction

Ophidian Pharmaceuticals Inc. (OTC BB:OPHD)

Hemoxymed Inc.*

4/17

ND

ND

Ophidian will merge with Hemoxymed by acquiring all of Hemoxymed's stock in exchange for 19M new, unregistered Ophidian shares, about 94% of the company

Periodontix Inc.*

Demegen Inc. (OTC BB:DBOT)

2/9

6/01E

ND

Demegen plans to acquire Periodontix through an initial payment and a second payment made in April; the acquisition should be completed by mid-year

Prospect Genomics Inc.*

Structural GenomiX Inc.*

4/6

4/30E

ND

Structural GenomiX signed a formal agreement to acquire Prospect Genomics for an undisclosed amount

Soltec Research Pty. Ltd. (division of F.H. Faulding & Co. Ltd.; Australia)

Connetics Corp. (CNCT)

3/21

4/21

$16.9

Connetics plans to acquire Soltec for $16.9M in cash

Tolerance Pharmaceuticals Inc.*

Cardion AG (Germany) *

4/4

ND

ND

Cardion said it will acquire Tolerance for an undisclosed amount

Xenometrix Inc. (OTC BB:XENO)

Discovery Partners International Inc. (DPII)

2/28

ND

$1.7

Discovery Partners intends to purchase Xenometrix for 59 cents for each of the 2.9M shares outstanding

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 acquistions 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 of 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.

E = Estimated date, dependent on approval of regulatory authorities and shareholders of one or all companies involved in the transaction; ND = Not disclosed, reported and/or available.

* Private companies are indicated with an asterisk.

** Unless otherwise noted, the trading symbols listed are on the Nasdaq market.

LSE = London Stock Exchange; NYSE = New York Stock Exchange; OTC BB = Over the Counter Bulletin Board; TSE = Toronto Stock Exchange

*** 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.

No Comments