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BioChem Pharma rejects takeover rumours:

This article was originally published in Clinica

Executive Summary

Canadian diagnostics, pharmaceutical and vaccine company BioChem Pharma has denied rumours of a takeover approach from Glaxo Wellcome (UK). Glaxo holds a 17% stake in BioChem and is a partner in a number of drug projects. BioChem tripled its diagnostics sales to Can$92 million ($68 million) last year (see Clinica No 665, p 10) following the acquisition of Serono Diagnostics in 1994.

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