Bioton has reached a preliminary agreement with Actavis, the major international generics firm based in Iceland, about selling to it 51% of shares in BioPartners, the Polish company’s Swiss subsidiary. Under the document, Actavis was granted exclusivity to conduct a due dilligence on BioPartners until 1 November.
BioPartners develops innovative products based on recombinant DNA technology. Actavis focuses mainly on generics, and buying into BioPartners is to give it exposure to a lucrative segment of biotech medicines. According to unofficial information obtained by Puls Biznesu, it was the Icelandic firm that approached Bioton about a deal, attracted mainly by the potential of BioPartners’ candidate long-acting growth hormone drug. The Swiss company is to apply for an EU-wide marketing authorisation for this product next month.
The transaction might lead to further investments by Actavis in Bioton’s projects, the newspaper claims, including the Polish firm’s core insulin operations, or even to the purchase of an equity stake in the Polish firm.
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