Amgen (AMGN), Pfizer Inc. (PFE) Duke it Out for Takeover of BioCad, Deal May Top $1 Billion
6/27/2013 7:45:57 AM
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Biocad, a Russian biotechnology company that is trying to copy some of the world’s top-selling cancer medicines, is seeking a buyer, said two people with direct knowledge of the matter. Biocad may be valued at as much as $1 billion, according to one of the people, who asked not to be identified as the talks are private. A second person estimated its value at closer to $750 million. The closely held St. Petersburg-based company hired William Blair & Co. to organize the sale process, which is in its final stages, one of the people said. U.S. drugmaker Pfizer Inc (PFE) (PFE). and Amgen Inc (AMGN)., the world’s biggest biotechnology company, are two of three remaining bidders, one of the people said. Like Biocad, both U.S. companies are working on so-called biosimilars, which are copies of branded biological drugs.
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