UCB buys Celltech for £1.53bn in cash

Deal 5/1/2004

Executive Summary

In the largest biotech transaction so far this year, UCB SA has agreed to acquire the approximately 278mm common shares of Celltech Group PLC for £1.53bn ($2.7bn) in cash, or almost six times the company's 2003 sales. Analysts say the merged biopharmaceutical company will rank fifth in sales volume worldwide--following behind Amgen , Novo Nordisk , Schering AG , and Genentech .

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