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Biotech / Medical : Munch-a-Biotech Today
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To: nigel bates who wrote (989)4/26/2001 8:54:39 PM
From: smh  Read Replies (1) of 3158
 
Celltech eyes US acquisitions
Originally published 15 March 2001 from the news archive section

Celltech could be set to trigger a wave of product and technology acquisitions - principally in the US - after an excellent last year’s performance fuelled a bullish stance by chief executive Peter Fellner.

The company said it was looking to consolidate its position as Europe’s largest biotech company.

Fellner said: “We have the firepower to further develop the business and part of that would be through mergers and acquisitions if the right opportunity was there.”

Celltech’s results were ahead of expectations and Fellner added: “We are seen as a consolidation leader and given our critical mass it would not be unreasonable to see us making another significant acquiition within a year or three. It is not something we would shy away from.”

Celltech has acquired Chiroscience - now based at Granta Park in South Cambs - and Medeva in the last two years. It is felt Celltech would especially like to expand its presence in the US, possibly through product acquisitions.

The company is already expanding its US salesforce to 400 in anticipation of the mid-year launch of Metadate, a formulation of a hyperactivity drug that received provisional regulatory clearance last week.

Celltech is also anxious to build its capabilities in cancer research - much of which is conducted in collaboration with partners such as Bristol-Myers Squibb and American Home Products.

Celltech’s profits before exceptionals increased 28 per cent to £25.1m in the year to the end of December. Underlying sales and royalties stayed at £250.2m but the shares rose 3p on the results.
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