Crucell M&A update; Meda buys Antula; Bayer eyes pharma boost

In a batch of merger and acquisition news revealed this morning, US health care giant Johnson & Johnson (NYSE: JNJ) says it has completed its $2.29 billion tender offer for Dutch vaccine maker Crucell N.V. (Euronext: CRXL; The Pharma Letter September 17, 2010) and has declared the offer unconditional. As a result, Crucell will now operate as the center for vaccines within the Johnson & Johnson pharmaceuticals group. Settlement of the offer will take place on February 25, and the remaining shares can be tendered in a subsequent offering period ending March 8, 2011.

In another acquisition, Swedish drugmaker Meda (MEDAA: SS) has agreed to buy Stockholm-based Antula Holding AB for 1.8 billion Swedish kronor ($282 million) using its existing credit facilities. The deal is subject to standard closing requirements and the approval of the competition authorities. Antula owns over-the-counter brands such as SB12, Anti, Zyx, Becur, Ac3, Lactal Balans, Eeze, Nalox and Inside, which generated annual sales of about 500 million kronor. Following the acquisition, Meda plans to expand the availability of these products outside of the Nordic region. The transaction is expected to be completed within a couple of months.

Last year, Meda bought the US specialty drug firm Alaven for $350 million, and Vivus’ assets relating to MUSA, transurethral alprostadil, for the treatment of erectile dysfunction (ED), for around $23.5 million (TPLs October 5 and September 1, 2010).