Wyeth would become one of the leaders in the vaccine segment.
Crucell reports that it is in discussions with Wyeth regarding a takeover deal. If such an agreement does go through, Wyeth will become a significant player in the vaccines market.
Crucell’s stock surged 35% in morning trading. The company closed yesterday at $11.58 and opened today at $15.64. Oya Yavuz, director corporate communications and investor relations, could not divulge any details of discussion but asserted that it was not a hostile offer and all talks were friendly.
Crucell has seven approved vaccines: Quinvaxem® for protection against five childhood diseases, Hepavax-Gene® for hepatitis B, MoRu-Viraten® for measles and rubella, Epaxal® Junior and Epaxal for hepatitis A, Vivotif® for typhoid, Dukoral® for diarrhea caused by cholera, and Inflexal® V for influenza.
The firm reported €213.10 million, or $292.72 million in revenues during 2007. The first three quarters of 2008 brought in €189.6 million, or $260.43 million, in revenues.
The company also has clinical programs in various stages of development in indications like yellow fever, seasonal flu, rabies, tuberculosis, malaria, ebola, HIV, and H5N1 avian flu. Furthest along is the yellow fever vaccine, which is in Phase III trials.