COMPLETED MERGERS AND ACQUISITIONS - 1999 |
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Company Acquired |
Acquired By Or Merged With |
Date Announced |
Date Completed |
Value (M) |
Terms/Details |
Acacia Biosciences Inc. |
Rosetta Inpharmatics Inc. |
Jan-99 |
Feb-99 |
ND |
Rosetta acquired Acacia in an all-stock transaction; detailsND |
Advanced Inhalation Research Inc. |
Alkermes Inc. |
Feb-99 |
Feb-99 |
114 |
Alkermes issued 3.68M shares of common stock to buy AdvancedInhalation |
Agouron Pharmaceuticals Inc. |
Warner-Lambert Co. |
Jan-99 |
May-99 |
$2,100 |
Warner-Lambert exchanged each share of Agouron for 0.8108to 0.93 shares of Warner-Lambert |
Allelix Biopharmaceuticals |
NPS Pharmaceuticals |
Sep-99 |
Dec-99 |
53.6 |
NPS acquired Allelix in an all-stock transaction |
Androgenics Technologies Inc. |
Genta Inc. |
Sep-99 |
Sep-99 |
ND |
Genta acquired Androgenics for warrants for Genta's commonstock |
Anergen Inc. |
Corixa Corp. |
Dec-98 |
Feb-99 |
8.1 |
Corixa acquired Anergen for $8.1M in stock (1.1M sharesat $7.30 each |
Apex Bioscience Inc. |
U.S. subsidiary of VitaResc Biotech AG |
Jul-99 |
Jul-99 |
ND |
Apex will continue to operate under its current name asa wholly owned subsidiary of VitaResc |
Aprogenex Inc. |
Vysis Inc. |
Jul-99 |
Jul-99 |
ND |
Vysis acquired Aprogenex's intellectual property portfolio,including 2 U.S. patents and several licensed rights |
ATP Inc. |
PPD Inc. |
Feb-99 |
Apr-99 |
ND |
PPD issued an undisclosed number of unregistered sharesto ATP stockholders in return for their stock |
Axogen Ltd. |
Elan Corp. plc |
Nov-99 |
Dec-99 |
182.8 |
Elan exercised its option to acquire all outstanding commonshares of Axogen at $34.56 per share |
Binary Therapeutics Inc. |
Pacific Pharmaceuticals Inc. |
Feb-99 |
Feb-99 |
0.31 |
Pacific issued 2.16M shares common stock (at $0.141 each)to Binary Therapeutics stockholders |
BioChem ImmunoSystems Inc. |
ABX Diagnostics Inc. |
Jul-99 |
Jul-99 |
ND |
ND |
Biomedical Services Laboratory division of DynCorp |
Novavax Inc. |
Aug-99 |
Aug-99 |
ND |
Novavax acquired substantially all of the assets, excludingcash and accounts receivable, of DynCorp's Biomedical Services Laboratorydivision |
Cabrillo Laboratories |
Magellan Laboratories Inc. |
Feb-99 |
May-99 |
2.5 |
Amylin received $2M in cash and $0.5M in credit for futureservices to be provided by Magellan to Amylin |
Cadus Pharmaceuticals Corp. |
OSI Pharmaceuticals Inc. |
Aug-99 |
Aug-99 |
1.5 |
OSI acquired Cadus's drug discovery programs focused onG-protein-coupled receptors |
CellPro Inc. |
Nexell Therapeutics Inc. |
Sep-98 |
Feb-99 |
3 |
Nexell acquired all of CellPro's intangible assets for $3Min Vimrx stock |
Celltech plc |
Chiroscience Group plc |
Jun-99 |
Aug-99 |
£685 (US $1.1B) |
Celltech merged with Chiroscience by way of an allshareoffering on the basis of 62 new Celltech shares for every 100 Chiroscienceshares |
Centocor Inc. |
Johnson & Johnson |
Jul-99 |
Oct-99 |
$4,900 |
Johnson & Johnson acquired Centocor in a stock-for-stockexchange |
Oncology diagnostics business of Centocor Inc. |
Fujirebio Inc. |
Oct-98 |
Nov-98 |
37.5 |
Fujiribio paid $37.5M for Centocor's diagnostics business |
Cerebrus Pharmaceuticals Inc. |
Vanguard Medica plc |
Dec-99 |
Dec-99 |
£9.6 (US$16) |
Vanguard acquired Cerebrus for £9.6 million in theform of 7.09 million shares for Cerebrus |
ChromaXome Corp. |
TerraGen Diversity Inc. |
Mar-99 |
Mar-99 |
6.5 |
TerraGen acquired the assets of ChromaXome |
Chrysalis International Corp. |
Phoenix International Life Sciences Inc. |
Nov-98 |
May-99 |
C$12.3 (US$8.3) |
Phoenix acquired all of Chrysalis' outstanding shares inexchange for US$8.29M in Phoenix shares |
Research reagents business of Cistron Biotechnology Inc. |
Research and Diagnostics Systems Inc. |
Feb-99 |
Apr-99 |
0.8 |
R & D Systems paid $0.75M in cash for Cistron's researchreagents business |
CoCensys Inc. |
Purdue Pharma LP |
Aug-99 |
Sep-99 |
5.7 |
Purdue Acquisition Corp., a subsidiary of Purdue PharmaLP, purchased in a cash tender offer all outstanding shares of CoCensysInc.'s common stock for $1.16 per share |
Clinical SMO |
The West Co. |
Dec-98 |
Apr-99 |
15 |
The West Co. paid $15M in cash for Collaborative's SMO division |
CombiChem Inc. |
DuPont Pharmaceuticals |
Oct-99 |
Nov-99 |
95 |
DuPont acquired approximately 97 percent of CombiChem'scommon stock |
Convergence Pharmaceuticals Inc. |
Ilex Oncology Inc. |
Jul-99 |
Jul-99 |
9.9 |
Ilex acquired Convergence in exchange for 1M shares of Ilexcommon stock |
Cytel Corp. |
Neose Technologies Inc. |
Mar-99 |
Mar-99 |
5 |
Neose paid Cytel $3.5M in cash, and paid an additional $1.5Minto escrow, the release of which is contingent on Cytel's satisfactionof certain matters relating to the acquired patents and licenses |
CytoMed Inc. |
LeukoSite Inc. |
Jan-99 |
Feb-99 |
18.6 |
LeukoSite purchased CytoMed for 1.57M shares of preferredstock |
DepoTech Corp. |
SkyePharma plc |
Oct-98 |
Mar-99 |
55.7 |
SkyePharma acquired DepoTech in a stock exchange and equitypurchase valued at $30.7M |
Diatide Inc. |
Schering-Berlin Inc. |
Sep-99 |
Nov-99 |
106.4 |
Schering Berlin acquired 94 percent of Diatide's commonstock at $9.50 per share |
Discovery Technologies Ltd. |
Discovery Partners International |
Jun-99 |
Jan-00 |
ND |
Discovery Technologies became a wholly owned subsidiaryof Discovery Partners |
Envoy Corp. |
Quintiles Transnational Corp. |
Dec-98 |
Mar-99 |
$1,700 |
Quintiles acquired Envoy in a stock exchange at a ratioof 1.166 shares Quintiles for 1 share Envoy |
EnzyMed Inc. |
Albany Molecular Research Inc. |
Sep-99 |
Oct-99 |
20.6 |
Albany successfully completed its acquisition of EnzyMed |
Fuisz Technologies Ltd. |
Biovail Corp. International |
Jul-99 |
Nov-99 |
245 |
Biovail acquired Fuisz in a two-stage cash and stock transactionthat values Fuisz at $7.00 per share, or approximately $154M |
GeneMedicine Inc. |
Megabios Corp. |
Oct-98 |
Mar-99 |
38 |
This merger was accomplished by a stock exchange; each outstandingshare of GeneMedicine was exchanged at a ratio of 0.571 for newly issuedshares of Megabios |
GeneSense Technologies Inc. |
Lorus Therapeutics Inc. |
Apr-99 |
Nov-99 |
9.4 |
Lorus completed its acquisition of all of GeneSense's outstandingshares; Lorus was offering about $9.4 million in stock when the deal wasbeing renegotiated |
Genetic MicroSystems Inc. |
Affymetrix Inc. |
Sep-99 |
Feb-00 |
100 |
Affymetrix issued approximately 1M shares of common stockfor all outstanding GMS shares |
Genzyme Tissue Repair's 50% interest in the Diacrin/Genzymejoint venture |
Genzyme General |
Apr-99 |
May-99 |
25 |
Genzyme Tissue Repair transferred its 50 percent interestin the Diacrin/Genzyme LLC joint venture to Genzyme General |
Heaven's Door Corp. |
Procept Inc. |
Nov-99 |
Jan-00 |
ND |
Heaven's Door Corp. (HDC) and Procept merged; Procept issuednew shares of its common stock in exchange for all HDC equity |
HepaVec AG |
MondoGen GmbH |
Nov-99 |
Nov-99 |
ND |
HepaVec acquired a majority stake in MondoGen; financialterms ND |
Drugs of addiction vaccines programs of ImmuLogic PharmaceuticalCorp. |
Cantab Pharmaceuticals plc |
Dec-98 |
Feb-99 |
20 |
Cantab will pay $20M in all to acquire ImmuLogic's vaccinesprograms |
ImuMed Deutschland GmbH |
Viper Resources Inc. |
Aug-99 |
Aug-99 |
ND |
ImuMed was acquired in settlement of a loan from Viper toTransplant Technologies in the approximate amount of $0.7M |
Incara Pharmaceuticals Corp. |
ND |
Dec-99 |
Jan-00 |
$10-$14 |
Incara sold its antibacterial drug discovery division toan undisclosed purchaser for cash payments |
Innovir Laboratories Inc. |
Ribozyme Pharmaceuticals Inc. |
Aug-99 |
Aug-99 |
ND |
Ribozyme acquired all of the ribozyme-based intellectualproperty assets of Innovir |
IntraEar Inc. |
Durect Corp. |
Oct-99 |
Nov-99 |
ND |
Durect acquired substantially all of the assets of IntraEar |
JBL Scientific Inc. |
Promega Corp. |
Mar-99 |
May-99 |
6.2 |
Genta Inc. sold the assets of its subsidiary, JBL ScientificInc., to a subsidiary of Promega Corp |
Large Scale Biology Corp. |
Biosource Technologies Inc. |
Feb-99 |
Feb-99 |
ND |
Large Scale Biology was renamed Biosource Proteomics |
LeukoSite Inc. |
Millennium Pharmaceuticals Inc. |
Oct-99 |
Dec-99 |
635 |
LeukoSite shareholders received 0.4296 shares of newly issuedMillennium common stock in exchange for each LeukoSite share |
Magnetic Imaging Technologies Inc. |
Nycomed Amersham Imaging Inc. |
Aug-99 |
Aug-99 |
ND |
Nycomed assumed full control over and exclusive access toMagnetic's hyperpolarization technology |
Marathon Biopharmaceuticals LLC |
Ligand Pharmaceuticals Inc. |
Aug-98 |
Feb-99 |
5 |
Ligand acquired Marathon as part of the overall transactionin which it acquired Seragen Inc. (completed 8/98) |
Medeva plc |
Celltech Chiroscience plc |
Nov-99 |
Jan-00 |
£563 (US$912) |
Celltech acquired Medeva, offering 34 new shares for every100 Medeva shares |
MetaXen LLC |
Exelixis Pharmaceuticals Inc. |
Jul-99 |
Sep-99 |
£0.24 (US $0.39) |
Exelixis acquired the majority of assets of MetaXen, includingfacilities, equipment and employees |
Metra Biosystems Inc. |
Quidel Corp. |
Jun-99 |
Aug-99 |
23 |
Quidel acquired approximately 93 percent of outstandingMetra shares through a $1.78 per share tender offer |
Millennium BioTherapeutics Inc. |
Millennium Pharmaceuticals Inc. |
Oct-99 |
Dec-99 |
30 |
Millennium Pharmaceuticals acquired the shares of its majority-ownedsubsidiary, Millennium BioTherapeutics Inc. (MBio) |
Six blood collection centers owned by Nabi |
ND |
Apr-99 |
Apr-99 |
ND |
ND |
Nanotech |
SkyePharma plc |
Sep-99 |
Sep-99 |
7.5 plus stock |
SkyePharma will pay $2.5 million cash and 3 million ordinaryshares to acquire Medac's nanoparticle drug delivery program |
Minority interest in Nexell Therapeutics Inc. held by BaxterHealthcare Corp. |
Vimrx Pharmaceuticals Inc. |
Jan-99 |
Jul-99 |
5.2 |
Vimrx acquired Baxter's minority interest (19.5%) in Nexell |
NeXstar Pharmaceuticals Inc. |
Gilead Sciences Inc. |
Mar-99 |
Jul-99 |
550 |
Gilead acquired NeXstar in an all-stock transaction, ata ratio of 0.425 share Gilead for 1 share NeXstar |
Neuralab Ltd. (UK) |
Elan Corp. plc |
Nov-99 |
Jan-99 |
ND |
Elan Corp. exercised its option to acquire all outstandingcommon shares of Neuralab at $61.01 per share |
Neurocrine Biosciences Inc. |
Paladin Labs |
Dec-99 |
Dec-99 |
2 |
NBI sold neurosteroid program and Canadian affiliate toPaladin for $2 million plus royalties on worldwide product sales |
North American Vaccine Inc. |
Baxter International Inc. |
Nov-99 |
Nov-99 |
390 |
Baxter acquired North American Vaccine in a stock and cashtransaction |
Nova Molecular Inc. |
Variagenics Inc. |
Feb-99 |
Feb-99 |
12 |
Nova reorganized into a new parent corporation |
Novex |
Invitrogen Corp. |
Jun-99 |
Aug-99 |
50 |
Invitrogen issued approximately 2.5M shares of its commonstock for all of the capital stock of Novex, and assumed Novex's outstandingoptions |
Oak Grove Technologies Inc. |
Quintiles Transnational Corp. |
Feb-99 |
Feb-99 |
ND |
ND |
Oncolytics Biotech Inc. (Canada) |
Synsorb Biotech Inc. (Canada) |
Feb-99 |
Apr-99 |
1.7 |
Synsorb acquired all outstanding shares of Oncolytics forUS$1.66M in Synsorb shares |
OraVax Inc. |
Peptide Therapeutics Group plc |
Nov-98 |
May-99 |
20 |
Peptide Therapeutics acquired OraVax for $20M in stock andcash |
OSI Pharmaceuticals Inc. |
Bayer Corp. |
Nov-99 |
Nov-99 |
11 |
Bayer acquired the assets of OSI's diagnostics business,including the assets of OSI's wholly owned diagnostics subsidiary, OncogeneScience Diagnostics |
OST Developpment SA |
Osteotech Inc. |
Jul-98 |
Feb-99 |
1.5 |
Osteotech acquired a majority interest in OST in 2 steps;in 6/98, it acquired a 5 percent stake; it acquired an additional 85 percentstake in 2/99 |
Assets of the Biochemical Research Reagent Division of OxfordGlycoSciences plc |
Glyko Inc. |
May-99 |
May-99 |
$1.5 to 2.1 |
The agreement is valued from $1.5M to $2.1M, depending onfuture sales of acquired products |
Pacific Pharmaceuticals Inc. |
Procept Inc. |
Nov-98 |
Mar-99 |
ND |
Each Pacific Pharmaceuticals share converted into 0.11 shareof Procept; Procept issued 2.755M shares to Pacific on closing |
Pentose Pharmaceuticals Inc. |
V.I. Technologies Inc. |
Nov-99 |
Nov-99 |
41 |
V.I. Technologies acquired Pentose in an all-stock transaction |
Peptimmune Inc. |
Genzyme General |
Jul-99 |
Jul-99 |
ND |
Terms ND |
Pharmaceutical Marketing Services Inc. |
Quintiles Transnational Corp. |
Dec-98 |
Mar-99 |
199 |
Quintiles acquired the companies through a stock exchange |
PolyMasc Pharmaceuticals plc |
Valentis Inc. |
May-99 |
Aug-99 |
19.8 |
Each outstanding share of PolyMasc common stock was exchangedat a fixed ratio of 0.209 for newly issued shares of Valentis common stock |
ProScript Inc. |
LeukoSite Inc. |
Jul-99 |
Jul-99 |
2.7 |
LeukoSite acquired ProScript for 188,000 newly issued sharesof LeukoSite common stock, valued at $2.3M and for $412,000 in cash |
Proteus International plc |
Therapeutic Antibodies Inc. |
May-99 |
Sep-99 |
£63.1 (US$101) |
This transaction was a share-for-share merger accompaniedby a conditional non-preemptive placing of 23.3M new Proteus ordinary sharesat 40 pence per share |
Prostagen Inc. |
Cytogen Corp. |
Jun-99 |
Jun-99 |
3 |
Cytogen acquired Prostagen based on an up-front stock paymentof $2.5M by Cytogen |
Research Genetics Inc. |
Invitrogen Corp. |
Dec-99 |
Feb-00 |
139 |
Invitrogen acquired Research Genetics for 3.2 million Invitrogenshares |
Ribi Immunochem Research Inc. |
Corixa Corp. |
Jun-99 |
Oct-99 |
56.3 |
Corixa acquired all outstanding shares of Ribi |
RiboGene Inc. |
Cypros Pharmaceutical Corp. |
Aug-99 |
Nov-99 |
ND |
Each outstanding share of RiboGene common stock was convertedinto the right to receive approximately 1.494 shares of Cypros common stock |
Roslin Bio-Med |
Geron Corp. |
May-99 |
May-99 |
26 |
Geron purchased all outstanding shares of Roslin in exchangefor 2.1M shares of Geron common stock |
Scandipharm Inc. |
Axcan Pharma Inc. |
Aug-99 |
Aug-99 |
C$147 (US$98) |
Axcan acquired all outstanding common and preferred sharesof Scandipharm |
Sequus Pharmaceuticals Inc. |
Alza Corp. |
Oct-98 |
Mar-99 |
580 |
Alza acquired Sequus in a stock exchange of 0.4 shares ofAlza for 1 share of Sequus; transaction valued at $16.975 per share forSequus shareholders |
Shield Diagnostics Group plc |
Axis Biochemicals ASA |
Jan-99 |
Jun-99 |
£177 (US $293) |
Shield merged with Axis through the issuing of one new Shieldcommon share for one Axis common share |
Shire Pharmaceuticals Group plc |
Roberts Pharmaceutical Corp. |
Jul-99 |
Dec-99 |
$1,000 |
Shire merged with Roberts by way of a share-for-share exchange |
Sibia Neurosciences Inc. |
Merck & Co., Inc. |
Aug-99 |
Nov-99 |
87 |
Merck acquired Sibia by purchasing 69 percent of Sibia'soutstanding common stock at $8.50 per share |
SmithKline Beecham plc |
Quest Diagnostics Inc. |
Aug-99 |
Aug-99 |
$1,300 |
SmithKline received approximately $1B in cash and 12.6Mnewly issued shares of Quest's common stock |
Sparta Pharmaceuticals Inc. |
SuperGen Inc. |
Jan-99 |
Aug-99 |
6.9 |
SuperGen acquired all outstanding shares of Sparta for 0.65Mnewly issued shares of SuperGen common stock |
Sugen Inc. |
Pharmacia & Upjohn Inc. |
Jun-99 |
Aug-99 |
650 |
Each share of Sugen common stock was converted into 0.6091of a share of P&U common stock |
SunPharm Corp. |
GelTex Pharmaceuticals Inc. |
Aug-99 |
Nov-99 |
16.5 |
GelTex completed its acquisition of SunPharm in an all stocktransaction |
SynQuest Inc. |
United Therapeutics Corp. |
Oct-99 |
Oct-99 |
4 |
United Therapeutics acquired SynQuest, paying the purchaseprice of approximately $4M in United Therapeutics common stock and cash |
Target Quest |
Dyax Corp. |
Aug-99 |
Aug-99 |
ND |
Dyax acquired Target Quest, expanding its phage displaytechnologies to include protein, peptide and antibody libraries |
TheraTech Inc. |
Watson Pharmaceuticals Inc. |
Oct-98 |
Jan-99 |
300 |
Watson acquired TheraTech in a stock exchange of 0.2663shares of Watson for 1 share of TheraTech |
Thetagen Inc. |
New Chemical Entities Inc. |
Sep-99 |
Sep-99 |
ND |
Thetagen and New Chemical Entities merged; financial detailsND |
Transcend Therapeutics Inc. |
KeraVision Inc. |
Dec-98 |
Jun-99 |
9.4 |
Transcend stockholders received shares of KeraVision equivalentto Transcend's net cash as of closing date (on 12/23/98, that amount was$8M) plus a 20 percent to 30 percent premium |
U.S. Bioscience Inc. |
MedImmune Inc. |
Sep-99 |
Nov-99 |
529 |
U.S. Bioscience and MedImmune merged in a stock and cashtransaction with an equity value of $580M, and a transaction value of $529M(net of cash and investments) |
Valorum-UK |
PRA International Inc. |
Feb-99 |
Feb-99 |
ND |
ND |
Vascular Therapeutics Inc. |
GlycoDesign Inc. |
Aug-99 |
Aug-99 |
10 |
GlycoDesign acquired all of Vascular Therapeutics' outstandingshares in exchange for GlycoDesign shares |
Virologix Inc. |
Access Pharmaceuticals Inc. |
Mar-99 |
Jul-99 |
1 |
Access acquired Virologix for 0.23M shares of Access |
Vysis Inc. |
Applied Imaging Corp. |
Jul-99 |
Jul-99 |
ND |
Applied Imaging purchased Vysis's cytogenetic imaging instrumentationbusiness |
JT America Inc.'s 50 percent interest in Xenotech Inc. andXenotech L.P. |
Abgenix Inc. |
Dec-99 |
Dec-99 |
57 |
Abgenix will pay $47 million to JT America for its 50 percentinterest in Xenotech Inc. and Xenotech L.P. in order to become the soleowner of XenoMouse technology for generating fully human antibodies |
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