FDA Blow to Basilea Leads to Deal Talk
Swiss drugmaker Basilea got hammered after the FDA delayed a decision on the company’s antibiotic ceftobiprole for at least a year. Shares in the company dropped by more than a third to 96 Swiss francs, leading some to wonder if the firm is now primed for a takeover.
“This might be an interesting entry point for a new investor, possibly Basilea’s partner for ceftobiprole, Johnson & Johnson,” Birgit Kulhoff, an analyst at private bank Rahn & Bodmer in Zurich, told Dow Jones Newswires.
The FDA refused to approve the antibiotic, which treats MRSA and other serious infections, because of concerns about three sites involved in the study, a mix of U.S. and international locations, Johnson & Johnson spokesman Greg Panico told the Health Blog. He declined to speculate on rumors of whether J&J would have interest in buying Basilea.
Though ceftobiprole has been approved in Canada and Switzerland, and has been recommended for approval in Europe, the concerns could delay U.S. approval for up to 18 months, some analysts estimate.
A bigger role for J&J wouldn’t be a shocker. Earlier this week, J&J announced a deal for biotech company Omrix, also a partner. Citigroup’s Matthew Dodds told the Health Blog then that J&J […]
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