Novo Nordisk negotiating acquisition of Biocorp
Danish diabetes care giant Novo Nordisk (NOV: N) has entered into exclusive negotiations for a controlling stake in France-based Biocorp, which would be followed by a mandatory simplified tender offer on all remaining outstanding shares in Biocorp.
Novo Nordisk is offering to buy the shares at a price of 35.00 euros in cash, representing a total equity value of approximately 154 million euros ($165 million) and a premium of 19.5% over Biocorp's closing market price on June 2
Since 2021 the companies have been collaborating on the development and commercialization of a Mallya add-on device for the Novo Nordisk FlexTouch pen used by people with diabetes, and during 2022 and 2023 this engagement has been expanded to the development of versions of the Mallya device for other therapy areas.
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