OR WAIT 15 SECS
Company and People Notes: Cambridge Major Labs acquires ChemShop; Helix BioPharma restructures senior positions, more.
Germantown, WI (Nov. 16)-Cambridge Major Laboratories acquired ChemShop BV (Weert, The Netherlands), a European supplier of active pharmaceutical ingredient development services. ChemShop will adopt the name Cambridge Major Laboratories Europe. The Weert facility includes research and development laboratories, GMP kilo lab suites, and a GMP pilot plant. Cambridge Major will invest several million dollars to expand the European site, which will include more reactor capacity, laboratories, and expansion of the company’s high potency API manufacturing capabilities. The planned expansion will commence immediately and be completed in the second half of 2008.
Toronto (Nov. 15)-Apotex, the largest Canadian-owned generic company, purchased the pharmaceutical company Topgen, E.S.V. of Belgium (Brussels) from Zambon Company SpA. (Milan), the holding company of the Zambon group of companies. No acquisition price was disclosed. http://www.zambongroup.com/home
New York (Nov 16)-Pfizer entered into an agreement to acquire Coley Pharmaceutical Group (Wellesley, MA), a publicly held biopharmaceutical company. Under the terms of the agreement, Pfizer will make a cash tender offer for all of the outstanding common stock of Coley for $8.00 per share, representing an enterprise value of $164 million. The transaction is subject to customary closing conditions, including approval under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and the acquisition by Pfizer of a majority of Coley’s shares. Shareholders holding approximately 27% of the Coley shares have entered into agreements to tender their shares in the offer.
Summit, NJ (Nov. 19)-Celgene and Pharmion (Boulder, CO) signed a definitive merger agreement in which Celgene agreed to acquire Pharmion. Under the terms of the agreement, Celgene will acquire all of the outstanding shares of Pharmion common stock for $72.00 per share payable in a combination of cash and shares of Celgene common stock. The transaction is expected to be slightly dilutive to earnings in 2008 and accretive in 2009 and beyond. The transaction brings together three therapies, “Revlimid,” “Thalomid,” and “Vidaza,” used worldwide.
Kenilworth, NJ (Nov. 19)-Schering-Plough completed the acquisition of Organon BioSciences NV, for approximately euro 11 billion in cash, increasing its pipeline, human and animal health portfolios, and research and development capabilities. Schering-Plough’s agreement to acquire Organon BioSciences was announced on March 12, 2007.
Cambridge, MA (Nov. 16)-Alnylam Pharmaceuticals, an RNAi therapeutics company, made two appointments to its management team: Stuart Pollard, PhD, as vice-president of scientific and business strategy; and Donna Ward, PhD, as vice-president of intellectual property.
Aurora, Canada (Nov. 15)-Helix BioPharma restructured its leadership positions. Effective immediately, the joint role of chief executive officer and president, formerly held by Dr. Donald Segal, will be separated whereby Segal will remain the company’s CEO and John Docherty will assume the role of president. Docherty served as vice-president of corporate development since 2002.
Basking Ridge, NJ (Nov. 14)-VioQuest Pharmaceuticals, a biopharmaceutical company, announced the resignation of Daniel Greenleaf, VioQuest’s chief executive officer, who will pursue other opportunities. Brian Lenz, the company’s chief financial officer, will serve as interim chief executive officer.
Morrisville, NC (Nov. 15)-Trimeris, a biopharmaceutical company, appointed Martin A. Mattingly, PharmD, chief executive officer, effective immediately. Mattingly will join the company’s board of directors.