Biocad to Sell for an Estimated $1 Billion

Source: PharmaManufacturing.com

Jun 28, 2013

Bloomberg.com

Russian biotechnology company Biocad is seeking a buyer. A source estimates the company is valued at as much as $1 billion. The closely held St. Petersburg-based company  is said to have hired William Blair & Co. to organize the sale process, which is in its final stages. U.S. drugmaker Pfizer Inc (PFE) (PFE). and Amgen Inc (AMGN)., the world’s biggest biotechnology company, are two of three remaining bidders, the source said. Like Biocad, both U.S. companies are working on so-called biosimilars, which are copies of branded biological drugs. Biocad is currently aiming to copy some of the world's top-selling cancer medicines. Read the full story.