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British Biotech buys Vernalis for £47.3m

Executive Summary

Aiming to augment its product pipeline, British Biotech PLC (matrix metalloproteinase inhibitors, MMPIs) is acquiring Vernalis Group PLC (develops CNS drugs) in a stock swap transaction worth £47.3mm ($79.7mm), or over 8 times Vernalis's 2002 sales. The combined entity will create the sixth largest biotech in the UK.

Deal Industry
  • Biotechnology
  • Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Acquisition
    • Full Acquisition
    • Intra-Biotech Deal
    • Payment Includes Stock
    • Reverse Acquisition

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