Danish drugmaker Novo goes public with 2.6b euro bid for Belgium's Ablynx
Hong Kong
DANISH drugmaker Novo Nordisk A/S made its largest takeover offer ever, an unsolicited 2.6 billion euro (S$4.15 billion) bid for Belgium's Ablynx NV, to beef up its lesser known blood-disorder unit and rekindle growth.
The offer for Ablynx signals a higher appetite for deals at the world's biggest maker of diabetes medicines. A year after taking the reins, chief executive officer Lars Fruergaard Jorgensen is looking to expand beyond the field of diabetes and gain medicines that command high prices because they target rare diseases. One Ablynx treatment called caplacizumab is poised for approval this year for an unusual disorder in which blood clots form in small vessels throughout the body.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
TikTok tells advertisers: ‘We are not backing down’
EV automakers get reprieve in US tax credit rules
Nomura, Mizuho face losses on All Blue fund’s failed trades
Stablecoin Tether steps up monitoring in bid to combat illicit finance
HSBC asked by US$890 billion investor group to set energy goal
BHP’s biggest rivals sit on the sidelines of Anglo M&A drama