Korean firm launches CHF1.5bn bid for Swiss pharma supplier Polypeptide

The South Korean contract biopharmaceutical manufacturer Samsung Biologics intends to acquire the Swiss active pharmaceutical ingredient manufacturer Polypeptide. The company is offering CHF44.31 per share in cash, valuing Polypeptide at around CHF1.5 billion. Polypeptide’s board of directors supports the offer, both companies announced on Monday. The major shareholder, Draupnir Holding, which holds just under 56% of the shares, also intends to sell its stake. The offer is around 40% above the…