French drug firm touted as Adcock bidder

PHARMACEUTICAL group Adcock Ingram is being pursued by two new suitors, in addition to Brian Joffe’s Bidvest. Speculation is running high that French pharmaceutical giant Sanofi is firmly in the running.

Insiders say a number of multinational companies have been looking to carve up Adcock ever since Bidvest made an opportunistic R6.2bn bid for it in March — an offer that has sat on the shelf since Adcock’s board refused to present it to shareholders a few weeks ago.

Sanofi, the fourth-largest drug company in the world with a presence in more than 100 countries, has some experience of takeovers, swallowing rival Aventis in 2004 for €54.5bn.

With a market value of €112bn, Sanofi could easily digest Adcock.

  • Adcock Takeover May Value Company at $1.5 Billion, JPMorgan Says – Bloomberg Adcock Ingram Holdings Ltd. (AIP) , South Africa ‘s largest supplier of hospital products, may gain a further 12 percent from yesterday’s 30-month high after it got takeover offers, according to JPMorgan Chase & Co.

  • Adcock Ingram Share Surge After Company Receives Offers – Bloomberg Adcock Ingram Holdings Ltd. (AIP) , South Africa ‘s largest supplier of hospital products, said it received offers to buy the company or a controlling stake, sending the stock to its highest level since 2010.

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    Sanofi’s net profit was (EURO)1 billion ($1.3 billion) in the January-March quarter, down 45 percent from (EURO)1.8 billion a year earlier.


  • Revealed: Big Pharma tested dangerous new drugs on unknowing Germans French drug maker Sanofi said Thursday its net profit was slashed in the first quarter from a year earlier as falling sales and patent losses on key drugs combined to hammer earnings.
    Sanofi’s net profit was (EURO)1 billion ($1.3 billion) in the January-March quarter, down 45 percent from (EURO)1.8 billion a year earlier.


  • Sanofi (France) Won’t Chase Alzheimer’s Therapies, Says 4/15/2013 8:05:12 AM
    Sanofi (SAN), unlike rivals such as Merck & Co., won’t push hard to find an Alzheimer’s treatment because the science isn’t advanced enough to justify the costs to develop a drug, Chief Executive Officer Chris Viehbacher said.


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