Samsung Biologics makes 1.46 billion Swiss francs all-cash offer to acquire Swiss Poly Peptide Group
On July 20, South Korea's Samsung Biologics announced that it would issue a public acquisition offer to the Swiss PolyPeptide Group in an all-cash manner for 1.46 billion Swiss francs (approximately US$1.8 billion). Under the terms of the offer, the group's shareholders will receive CHF 44.31 per share. The transaction is expected to close before the end of this year. Samsung Biologics said the acquisition will become the largest-ever merger and acquisition transaction in South Korea's biopharmaceutical field. The company hopes to expand its peptide therapy business through this transaction, further enrich its existing product portfolio centered on antibody drugs and antibody conjugate drugs, better meet customers' needs for a wider range of treatment models, and seize the rapid growth opportunities in the obesity and diabetes treatment drug markets. Peptide therapies are drugs composed of short-chain amino acids, including GLP-1 obesity and diabetes treatments that mimic natural hormones to suppress appetite and regulate blood sugar. Samsung Biologics pointed out that after the acquisition is completed, the company will gain access to PolyPeptide Group’s global network in Sweden, Belgium, France, the United States and India, covering the entire chain of R&D, development and commercial production capabilities, and further expand its global presence. PolyPeptide Group is headquartered in Baar, Switzerland. It was established in 1996 as a spin-off from the global pharmaceutical company Ferring. It focuses on the development and production of peptide active pharmaceutical ingredients and has developed and produced more than 1,000 therapeutic peptides. Peter Wilden, chairman of PolyPeptide Group, noted that after a comprehensive review of strategic options, the board of directors believes that Samsung Biologics’ offer is attractive to shareholders and can provide an attractive cash price and immediate certainty of value.