Saturday, October 4, 2008

European co expresses interest in biotech co Omrix

Among the possible candidates to acquire Omrix is German giant Bayer.
Sources inform that a European company is interested in acquiring Israeli biosurgical and immunotherapy products maker Omrix Biopharmaceuticals Ltd. , and that it is offering a substantial premium on the company's $320 million market cap. The company is reportedly conducting due diligence.
Among the possible candidates to acquire Omrix is German pharmaceuticals giant Bayer AG (XETRA; BAY; LSE: BYR). Bayer markets products of Omrix competitor ZymoGenetics Inc. (Nasdaq: ZGEN) and is a partner of Omri, a company owned by Omrix CEO Robert Taub, who owns 15.7% of Omrix.

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