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Celltech acquisition sends mixed messages

Nature Biotechnology volume 22, page 787 (2004)Cite this article

Celltech, in London, is Britain's largest independent biotechnology company, with 2003 revenues of £353 ($641) million and operating profits of £50 ($91) million. The company's size and its apparent maturity were clearly attractions for UCB, a mid-sized pharmaceutical manufacturer in Brussels best known for its blockbuster antihistamine drug Zyrtec. The UCB takeover is regarded in many quarters as a real setback for the UK biotechnology sector. Sally Bennett, vice president of biotechnology equity research at investment bank ING Financial Markets in London, adds that it may well affect investors' sentiment towards the sector.

One of the principal drivers behind the UCB bid, investment analysts say, is undoubtedly Celltech's late-stage product pipeline. The company has an extremely promising compound, CDP870, that is well into clinical trials both for Crohn's disease (due to launch in 2006) and for rheumatoid arthritis (scheduled for launch in 2007). Analysts estimate CDP870's sales could reach $740 million by 2010.

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    Peter Mitchell

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  1. Peter Mitchell
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Mitchell, P. Celltech acquisition sends mixed messages. Nat Biotechnol 22, 787 (2004). https://doi.org/10.1038/nbt0704-787

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