BioChem Pharma to merge with Shire
Shire (LSE:SHP; SHPGY) and BioChem Pharma (BCHE; TSE:BCH) plan to merge through a stock exchange valuing BCHE at about $4 billion (C$5.9 billion). The merger brings together a pipeline of seven products in registration or Phase III, five products in Phase II and 11 products in Phase I or preclinical development. SHP, which is focused on CNS disorders, metabolic diseases, cancer and gastroenterology, has eight marketed products, including Reminyl to treat Alzheimer's disease, which is marketed in the U.K. and under review in the U.S. BCHE, which is focused on cancer and infectious diseases, brings a number of marketed products, including its lamivudine 3TC, marketed as Epivir to treat HIV infection/AIDS and Zeffix to treat hepatitis B virus infection. Pro forma 1999 revenues of the combined company would have been $587 million. ...