Johnson & Johnson, looking to catapult itself into the global vaccine market, is in talks to pay $2.3 billion to buy Dutch biotech Crucell. The potential deal may be more proof it was a question of not if, but rather when other successful biotech companies with late-stage products will be bought. The potential deal also signals that J&J is most likely out of that race for Genzyme.
“The bid price on the remaining shares can be considered as a knock-out price and is substantially higher than the analysts’ consensus target price,” one analyst said. *View article*
Speaking of Genzyme, one of the keys to a successful bid for the biotech company may lie with the heavyweights on the board of Sanofi. The French based pharmaceutical group, which has just lost its flamboyant, long-standing chairman, is dominated by representatives of top shareholders Total and L’Oreal , but is also brimming with pharma experts brought in via acquisitions.
“What’s unusual is the way Sanofi has been cobbled together,” said a teacher from the French business school INSEAD.
Any hopes from Genzyme shareholders for a dramatically improved bid may hinge on how the internal dynamics of this disparate board play out. *View article*