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Article: Bioton acquires biopartners for $78m in stock, debt.
- Article from:
- BioWorld International
- Article date:
- March 21, 2007
- Author:
CopyrightCOPYRIGHT 2007 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BioWorld International Correspondent
Polish biotechnology firm Bioton SA continued its expansion into Western Europe by picking up Swiss biosimilar drug developer BioPartners Holdings AG in a stock-based deal valued at $77.8 million. That total includes $15.8 million in BioPartners debt, as well as 81.5 million Bioton shares, valued at around PLN183.4 million (US$62 million).
"If you look at what Genentech paid for Altus, it's not so substantial," BioPartners Chief Financial Officer Walter Hausermann told BioWorld International. His reference was to the recent partnering deal on a Phase II once-weekly version of HGH between South San Francisco-based ...