Bilthoven Biologicals acquired by Serum Institute of India

Bilthoven Biologicals, a Dutch manufacturer of monoclonal antibodies and vaccines, said this week that it has been acquired by Serum Institute of India, part of the Poonawalla Group and one of the largest vaccine producers in the world.

The deal is the first ever overseas acquisition by an Indian vaccine company, said Adar Poonawalla, executive director, Poonawalla Group and Serum Institute. “The initial cost of 32 million euros ($40.6 million) is only for 100% share purchase. The entire acquisition will roughly cost us 80 million euros ($101.5 million), payable over the next three years. This is because a lot of liabilities and assets are still to come to us and we will have to absorb and spend over the next three years or so. In addition, we will invest 20-30 million euros in the next few years towards infrastructure and building on capacities etc,” he said.

With its roots in the Dutch Vaccine Institute, which the Dutch government said last year was available for sale (The Pharma Letter February 16, 2011), loss-making Bilthoven Biologicals now positions itself as a contract manufacturer of monoclonal antibodies and other biologicals, in addition to its extensive vaccine portfolio. The company expects to profit from the new ownership by acquiring access to new markets and new product opportunities.