Novo Nordisk In Talks to Buy Biocorp in EUR154 Million Deal
2023年6月5日 - 3:21PM
Dow Jones News
By Dominic Chopping
Danish pharmaceutical company Novo Nordisk said Monday it has
entered into exclusive talks with Bio Jag to buy its entire stake
in Biocorp Production in a deal that values the French medical
device maker at 154.4 million euros ($165.4 million).
Novo Nordisk has offered EUR35 a share for Bio Jag's 45.3% stake
in Biocorp and the deal would be followed by a mandatory tender
offer for all remaining outstanding shares at the same price.
Certain minority shareholders representing 19% of Biocorp shares
have committed to transfer shares to Novo Nordisk upon completion
of the acquisition of Bio Jag's stake, it said.
Biocorp manufactures delivery systems and medical devices,
including Mallya, a Bluetooth enabled add-on device for pen
injectors. Since 2021, the companies have been collaborating on
developing a Mallya add-on device for the Novo Nordisk FlexTouch
pen used by diabetes patients, and this collaboration has been
expanded to develop versions of the Mallya device for other therapy
areas.
The price of the offer represents a premium of 19.5% over
Biocorp's closing market price on June 2.
Novo Nordisk said the purchase of Bio Jag's stake should
complete during the third quarter of 2023 with filing of the
subsequent offer expected in September 2023.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
June 05, 2023 02:06 ET (06:06 GMT)
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