Lilly among bidders for Denmark company, source says

Back to TopCommentsE-mailPrintBookmark and Share

Eli Lilly and Co., Novo Nordisk A/S, and Novartis AG’S Sandoz are among bidders for Ascendis Pharma A/S of Denmark, a person with knowledge of the matter said.

The Copenhagen-based health-care company received offers of about $400 million, said the person, who declined to be identified because the process isn’t public. Ascendis may choose a final bidder by early September, the person said.

Ascendis has a technology that allows drugs to be released into the body in a controlled way over time, according to its website. The company focuses on hormone-related disorders and is developing a human growth hormone that can be taken once a week. It’s also developing new formulations of approved medicines and products for the central nervous system and infectious diseases, according to the website.

The Danish company is developing a weekly insulin shot. Novo Nordisk, also based in Copenhagen and the biggest maker of the hormone insulin, aims to introduce an insulin product in 2013 that’s taken three times weekly. Indianapolis-based Lilly has an insulin product in mid-stage trials that targets a once-daily dose for diabetes. Sandoz, the generic-drug unit of Switzerland’s Novartis, sells biosimilar medicines including a version of Pfizer Inc.’s growth hormone.

Ascendis spokeswoman Lotte Sønderbjerg declined to comment. Eric Althoff, a Novartis spokesman, didn’t immediately return a call seeking comment. A call to Mark Taylor, a Lilly spokesman, before U.S. business hours wasn’t immediately returned. Novo Nordisk had no comment, spokeswoman Katrine Sperling said.

Sanofi-Aventis SA this week said it dropped development of an experimental, long-acting insulin that wouldn’t require diabetics to receive daily injections. The Paris-based company is still seeking a successor to its existing Lantus insulin, a daily shot that generated$4.05 billion in revenue last year. Lantus is Sanofi’s best-selling medicine.

Sanofi, France’s biggest drugmaker, cut its 2010 earnings forecast this month after U.S. regulators approved a generic rival to its Lovenox blood thinner. The company is preparing a formal approach to acquire Genzyme Corp., the world’s largest maker of medicines for genetic diseases, which last week rebuffed an informal approach by Sanofi to enter talks, said people familiar with the situation.

Ascendis is owned by its management, Paris-based Sofinnova Partners, Gilde HealthCare Partners BV of Utrecht, the Netherlands, and TechnoStart of Germany.


Post a comment to this story

We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
You are legally responsible for what you post and your anonymity is not guaranteed.
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
Subscribe to IBJ
  1. With Pence running the ship good luck with a new government building on the site. He does everything on the cheap except unnecessary roads line a new beltway( like we need that). Things like state of the art office buildings and light rail will never be seen as an asset to these types. They don't get that these are the things that help a city prosper.

  2. Does the $100,000,000,000 include salaries for members of Congress?

  3. "But that doesn't change how the piece plays to most of the people who will see it." If it stands out so little during the day as you seem to suggest maybe most of the people who actually see it will be those present when it is dark enough to experience its full effects.

  4. That's the mentality of most retail marketers. In this case Leo was asked to build the brand. HHG then had a bad sales quarter and rather than stay the course, now want to go back to the schlock that Zimmerman provides (at a considerable cut in price.) And while HHG salesmen are, by far, the pushiest salesmen I have ever experienced, I believe they are NOT paid on commission. But that doesn't mean they aren't trained to be aggressive.

  5. The reason HHG's sales team hits you from the moment you walk through the door is the same reason car salesmen do the same thing: Commission. HHG's folks are paid by commission they and need to hit sales targets or get cut, while BB does not. The sales figures are aggressive, so turnover rate is high. Electronics are the largest commission earners along with non-needed warranties, service plans etc, known in the industry as 'cheese'. The wholesale base price is listed on the cryptic price tag in the string of numbers near the bar code. Know how to decipher it and you get things at cost, with little to no commission to the sales persons. Whether or not this is fair, is more of a moral question than a financial one.