- Samsung Biologics has announced a $1.8 billion all-cash bid for Switzerland's PolyPeptide Group, aiming to expand into peptide-based therapeutics.
- The offer is priced at 44.31 Swiss francs per share, representing a premium of about 6.1% over PolyPeptide's last closing price of 41.75 Swiss francs.
- The tender offer is expected to launch by the end of August and close by year-end, according to Samsung Biologics.
- PolyPeptide's board has unanimously recommended that shareholders accept the offer, with its largest shareholder, Draupnir Holding, supporting the deal.
- Samsung Biologics aims to pursue a squeeze-out of any remaining minority shares and plans to delist PolyPeptide from the SIX Swiss Exchange.
- The acquisition will allow Samsung Biologics to expand its capabilities in peptide-based therapeutics, particularly in the fast-growing obesity and diabetes treatment market.
Samsung Biologics has made a significant move in the biopharmaceutical sector with a 1.46 billion Swiss francs ($1.8 billion) all-cash bid for PolyPeptide Group. The offer, priced at 44.31 Swiss francs per share, represents a 6.1% premium over PolyPeptide's last closing price of 41.75 Swiss francs.12
The acquisition is poised to be the largest biopharmaceutical M&A deal in Switzerland's history, as Samsung aims to diversify its portfolio by expanding into peptide therapeutics, a rapidly growing segment driven by increasing demand for obesity treatments. “After a comprehensive review of strategic options, the Board is convinced that Samsung Biologics' offer is compelling for our shareholders, delivering an attractive cash price and immediate, certain value today,” said Peter Wilden, chairman of PolyPeptide.
The deal is expected to close by the end of this year, with PolyPeptide's board unanimously recommending shareholders accept the offer. Notably, Draupnir Holding, which owns approximately 55.65% of PolyPeptide, has expressed support for the deal and plans to tender all its shares.45
This acquisition will not only enhance Samsung Biologics' capabilities in peptide-based therapeutics, including treatments for obesity and diabetes, but also expand its global footprint by securing PolyPeptide's extensive network across Sweden, Belgium, France, the U.S., and India, which includes R&D, development, and commercial manufacturing capabilities. PolyPeptide has a proven track record of developing and producing over 1,000 therapeutic peptides since its spin-off from Ferring in 1996.7
“The offer of 44.31 Swiss francs per share represents a 6.1% premium to Friday's close, and PolyPeptide's board has unanimously recommended shareholders accept the deal. Samsung Biologics aims to expand into peptide-based GLP-1 therapies for obesity and diabetes, with the transaction expected to close by year-end.”
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