Galapapositief schreef op 17 december 2020 08:04:
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A bid, hostile or agreed, now seems most likely for Novacyt, an international specialist in clinical diagnostics.
GlaxoSmithKline, AstraZeneca, ThermoFisher, Qiagen and Roche are seen as likely suitors.
GSK is regarded as the most likely buyer of Novacyt to bring fast growing diagnostics market into its revenue stream.
Novacyt’s rapid expansion and innovation capabilities puts it on the map for a takeover due to foreseeable revenue and growth prospects. Novacyt has become embedded into the NHS and DHSC networks and has some of the highest margins in the industry. Novacyt has an existing working relationship with GSK since their work together on the UK’s high-throughput lab in Cambridge in April 2020.
With GSK’s global distribution network, together they could become a major force in diagnostics and device technology since Novacyt’s recent acquisition of IT-IS.
GSK’s existing range includes pharmaceutical drugs, vaccines, consumer medication and now sports nutrition. Pharmaceutical drugs have onerous R&D costs with new drugs often taking decades to come to market, if at all. In 2019 alone, GSK spent over £4.5bn on R&D costs. Having a high margin, lower barrier-to-entry, diagnostics division, with an existing and expanding 550+ test range would help to buffer costs and increase group profitability.
Johnson & Johnson, GSK’s largest competitor has a medical device and diagnostics division which GSK lacks, and over 20% of JnJ’s revenues come from that area now. JnJ also quote diagnostics to have greater growth in future than other areas.
BDB Pitmans corporate team advised existing client Novacyt on its £12m acquisition of IT-IS International Limited, a diagnostic instrument development and manufacturing company. The acquisition strengthens Novacyt’s position in the market and supports the longer-term growth opportunity for rapid near-patient testing as well as securing significant IP and expanding the product offering and core capabilities in instrument manufacturing.
BDB Pitmans corporate partner Philip Weaver says: “BDB Pitmans is delighted to continue working with Novacyt as it looks to reinforce its strategy and take advantage of the opportunity that COVID-19 has presented the company as it addresses a drive towards rapid, decentralised testing.
“Client relationships are built on understanding their objectives and ambitions, and we’re delighted to be part of Novacyt’s growth story.”