UCB makes friendly bid for Schwarz Pharma
Belgium-based biotech company UCB plans to offer Euro 4.4bn to acquire German drug maker Schwarz Pharma in a cash-and-stock deal.
Belgium-based biotech company UCB plans to offer Euro 4.4bn to acquire German drug maker Schwarz Pharma in a cash-and-stock deal.
The deal, which the board of the German company is recommending to shareholders, would create a new company with annual revenue of more than €3.3 bn.
Headquartered in Monheim, Germany Schwarz Pharma has a strong international presence with subsidiaries in Europe, US and Asia. It has approximately 4,200 employees worldwide and in 2005 it achieved global sales of nearly €1bn.
UCB, meanwhile, employs over 8,300 people in 40 countries worldwide and made revenues of €2.3bn in 2005.
A key product in Schwarz Pharma's pipeline is the epilepsy and neurological pain drug Lacosamide and it saw the successful launch of its Parkinson's patch, Neupro, earlier this year.
Analysts say the two companies have some synergies in sales, but that significant infrastructure cost savings would result from the integration of the generic and specialty pharma segments.