The Belgians are coming; Celltech.(Celltech and its Belgian bidder)(UCB S.A.)
Economist (US), The, May, 2004
Horror at a foreign bid for a British biotech outfit
CELLTECH is Britain's number-two biotech company. In 1999 its sales were only [pounds sterling]44m, but reached [pounds sterling]353m last year, and due on the market in 2007 it has an anti-arthritis drug which, it hopes, may alone bring in [pounds sterling]600m. But this week it got a [pounds sterling]1.5 billion ($2.7 billion) bid from a Belgian company, UCB. The board backs the bid, and it will probably go through, given that Celltech has licensed the marketing rights to its new drug to the Belgians anyway.
Celltech plainly needed a big ally, or a bid. It has some decent products: two against coughs, one for attention deficit hyperactivity disorder, all sold in America. But--especially...
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