(AOF) – Following the announcement of the proposed acquisition of Biocorp by Novo Nordisk (a leading global company in the field of health care, Biocorp announces, following the obtaining of the usual regulatory authorizations, the realization today of the off-market acquisition by Novo Nordisk from Bio Jag, main shareholder of Biocorp (as well as certain minority shareholders, including Nyenburgh, Greenstock and Vatel Capital) of a total of 2,838,669 shares representing 64.3% of the capital and 64.09% of the voting rights of Biocorp for a price of 35 euros per share.
The outstanding convertible bonds issued by Biocorp have been fully redeemed in cash by Biocorp as of the date hereof in connection with the completion of the acquisition of the Control Block.
As a result of this achievement, the composition of Biocorp’s Board of Directors has been modified to take into account the new configuration of its shareholding. Following the resignation of Messrs. Jacques Gardette and Julien Gardette from their directorships, Biocorp’s Board of Directors is made up of five members in total, namely: Ms. Marianne Ølholm and Messrs. Peter Bøggild, Eric Dessertenne, Jean-Yves Berthon and Stephane Legastelois.
Ms. Marianne Ølholm and Mr. Peter Bøggild were co-opted to replace Messrs. Jacques Gardette and Julien Gardette. These cooptations, which took effect today, will be subject to ratification by the next ordinary general meeting of Biocorp shareholders.
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Biotechs put to the test
These companies are suffering from a much less favorable economic cycle, which is reflected in particular by a drop in financing by venture capital for start-ups. These companies are therefore obliged to carry out redundancy plans. Added to this is a much more restrictive regulatory framework. First, in the United States, the measures linked to the Inflation Reduction Act (IRA) could have a strong impact on the margins of the participants. Indeed, from 2026, the federal Medicare program will be able to renegotiate the price of drugs marketed for nine years (chemicals) or 13 years (biologicals), with discounts that could range from 35 to 60% for biotechs. Similarly, in Europe, with the new drug regulations presented in Brussels in April, the duration of patent protection will be reduced if the innovative treatment is not marketed in all member countries within two years.