COMPLETED MERGERS AND ACQUISITIONS - 1999

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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