GALAPAGOS GOES AHEAD WITH BID FOR BOFOCUS OF UK
Biotechnology company Galapagos has declared its bid for UK counterpart Biofocus unconditional. The Belgian-Dutch company yesterday announced that 76.9 percent of Biofocus shares have been tendered. Acquisition of the UK company will give Galapagos complete in-house development of new drugs up to initial animal testing. The combine will have annual sales of 28.5 million euros, with 189 staff in Leiden, Mechelen (Belgium) and Cambridge (UK). Both companies were loss-making in 2004.
NIS News Bulletin (http://www.nisnews.nl/public/141005_2.htm)