Quest Diagnostics/SmithKline Beecham
This article was originally published in The Gray Sheet
Executive Summary
Delay of Quest's $1.3 bil. acquisition of SB's clinical laboratory operations over the issue of SB's access to Quest's clinical lab information database (1"The Gray Sheet" July 12, In Brief) is resolved with Quest's granting to SB non-exclusive rights to use the database, Quest says Aug. 9. As part of the agreement, Quest will receive a minority interest in a company that SB will form to sell information products and services. The transaction is expected to close within two weeks
You may also be interested in...
Quest Diagnostics/SmithKline Beecham
Quest's acquisition of SB's clinical laboratory operations did not close on July 2, as had been previously expected, due to difficulties in finalizing an ancillary contract referred to as the definitive data access agreement. "The parties have been unable to agree on the extent to which SmithKline Beecham would have the right to commercialize information products utilizing Quest Diagnostics' laboratory data," according to a July 1 release. Quest shareholders approved the transaction June 29; either party can terminate the purchase agreement after Sept. 30, 1999, if the transaction has not closed (1"The Gray Sheet" Feb. 15, p. 27)
Japan Grants Global-First Approval To Zolbetuximab, 15 Other New Drugs
Astellas's first-in class CLDN18.2-targeting antibody receives its first approval worldwide, while crovalimab and a number of drugs for rare diseases also receive nods from regulators and are now awaiting reimbursement price-listing.
Hanmi-OCI Merger Hits Wall As Brothers Win Shareholder Vote, Board Seats
The planned merger of Korea's Hanmi Pharm Group with OCI Group hits a major speed bump as the two sons of Hanmi's founder and other candidates recommended by them secture board seats. But it remains to be seen how the Lim brothers will fulfil their ambitious promises.