Crucell launches $449m bid for Berna Biotech

02 December 2005 22:37  [Source: ICIS news]

NEW YORK (ICIS news)--Dutch biotech company Crucell NV said this week it intends to launch an all-share offer to acquire the Swiss vaccines maker Berna Biotech AG.

The acquisition is valued at $449m (Euro383m). The companies intend to launch the exchange in mid-December, and expect the deal to close in February 2006.

The deal creates a full-integrated vaccines company, with capabilities spanning from research and development and clinical development to manufacturing and marketing. Berna contributes a portfolio of products, including its flu vaccine Inflexal, the typhoid vaccine Vivotif and vaccines for Hepatitis A and B; manufacturing sites in Switzerland, Spain and Korea; and a global network of distribution partners.

Crucell brings an early-stage vaccines pipeline and a strong technology component to the combined entity. The company has managed to attract a long list of licensing partners with its PER.C6 production technology, which uses a human cell line for the production and large-scale manufacturing of viral-based vaccines, monoclonal antibodies and recombinant proteins.

Combined revenues for the first half of 2005 totalled Euro61m ($71m). The companies said immediate growth will be driven by sales of Berna's currently marketed vaccines and revenue from Crucell's licensing agreements.

Medium-term growth will stem from new product launches. Berna expects in 2006 to gain approval for two vaccines - a two-dose vaccine for Hepatitis B and a yellow fever product. The company also plans to file for approval for Aerugen, a vaccine against a particularly virulent bacteria that affects Cystic Fibrosis patients.

By: Lisa Jarvis
+1 713 525 2653

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