Acambis calls off talks for Baxter unit buyout |
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Sun, 10 Jul 2005 11:05
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LONDON: British vaccine making company Acambis Plc. has called off negotiations to acquire a U.S. company. A newspaper report in Britain had said Acambis had been in talks to buy the vaccine business of Baxter International Inc.
Reacting to the speculatory news, the Cambridge-headquartered loss-making company's board, in a statement, confirmed the talks had indeed taken place, but "they are not currently ongoing".
Acambis had struck it big with deals to supply small pox vaccine to the U.S. and other countries, which are afraid of a possible terrorist bio-war. The highly-contagious and killing small pox, which stands eradicated from earth since 1979, could make a comeback, believe scientists, if the terrorists have a way and get access to the specimen stocks of the virus kept in research laboratories and use it as a weapon.
However, the contract did not work out fully and Acambis had sustained a wider first quarter loss.
Acambis chief executive Gordon Cameron has been on record in the past that he is looking for buyouts so that it can introduce more products and make better use of its infrastructure. The company had acquired a U.S.vaccine firm, Berna Products, in 2003.
Recently, the company had revealed positive clinical trials for its West Nile virus vaccine.
Acambis and Baxter are known to have worked together on a new version of the small pox vaccine after the 11 September 2001 terror strike and had sold the product to the U.S. government. Baxter had held shares in Acambis until 2003.
Baxter, analysts point out, is intent on hiving off its vaccines unit, basically because its flu vaccine, which was in late stage trials, had failed as it was found to cause more side-effects than rival vaccines.
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