US takeover of Crucell looks less likely

A takeover of biotech firm Crucell by US pharmaceutical concern Wyeth looks less likely following reports that Wyeth itself could be acquired by the world’s largest drug maker, Pfizer, according to Dutch media reports.

The Wall Street Journal says talks between US giant Pfizer have been taking place for months although both Wyeth and Pfizer refuse to comment on what they say is market rumour.
The news in the WSJ led to a fall of 12% in Crucell’s share price on the Amsterdam stock exchange on Friday morning.
Analyst Jan van den Bossche of Petercam told the Telegraaf that short-term investors who bought Crucell shares earlier this month – pushing up the share price by 42% – are now selling them.
Crucell announced on its website on January 7 that it was in ‘friendly discussions’ with Wyeth on a takeover.

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