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Novartis and GlaxoSmithKline tipped to move for Serono
Novartis and GlaxoSmithKline tipped to move for Serono
Date published:
13/01/2006
Speculation that Novartis may now make a bid for Serono have
increased as the company ruled out a takeover of Berna Biotech. Novartis, which
first showed an interest in the vaccine maker Berna in December, announced it
would not be making a move to acquire the firm after completing an assessment
of the potential benefits and risks.
Berna is now likely to face
acquisition from the Dutch firm Crucell with an offer thought to be worth
around $450 million. Speculation over GlaxoSmithKline making a bid for Serono
has arisen as a takeover would boost the firm's capacity for biologics
manufacturing and add resources in infertility and multiple sclerosis (MS)
treatments. Serono's Geneva research and development centre was originally
bought from GlaxoSmithKline.
The Financial Times reported GlaxoSmithKline was
considering a bid for a 60 per cent stake in the firm. A deal for Serono could
be the biggest pharmaceutical merger since Sanofi-Synthelabo bought Aventis in
2004 for $72.7 billion. The Swiss biotech firm is thought to be worth around
$12 billion.
Other possible bidders for Serono have been suggested as
Sanofi-Aventis and Pfizer. The deadline for a decision on the sale has been set
for the end of January.
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