Home » News » 12/05 » Cephalon acquires UK's Zeneus Pharma

Cephalon acquires UK's Zeneus Pharma

Date published: 06/12/2005

US-based Cephalon has announced that it has agreed to acquire the holding company of Zeneus Pharma Limited for $360 million. Europe-based Zeneus Pharma will become a fully owned subsidiary of Cephalon. The company said that the acquisition will allow the firm to expand its reach in the oncology market with drugs such as Myocet and Targretin.

The expansion will add over 240 staff to Cephalon's European operations, and will give the firm new offices in Spain and Italy. The company plans to open operations in Eastern, Central and Northern Europe, including Scandinavia, after the purchase is complete.

"This agreement will significantly expand our product portfolio in Europe and is consistent with our strategy and recent transactions in the United States that create a platform from which we will grow our oncology business," said Frank Baldino of Cephalon.

"Since formation of Zeneus in early 2004, we have created significant value in the business," said Steven Harris, CEO of Zeneus Pharma.

"This combination with Cephalon is compelling and will create a major pharmaceutical force in Europe." The move is the latest in a string of acquisitions for the company. Cephalon had bought oncology drug development company Salmedix in May, and had purchased commercial oncology treatment Trisenox in June.

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