1. In Vivo
  2. >>Global Vision

OGS: Going, Going, Gone

 
• By Hazel Dawson

OGS-once one of European biotech's leading players-recently sold to compatriot Celltech for less than cash value. The deal shows that in the current climate, even bidding wars don't always push up acquisition prices, and cash remains king.

In 2000, riding the wave of euphoria surrounding the human genome project, the UK's Oxford GlycoSciences PLC raised £150 million ($230 million) in one of the largest secondary offerings the European biotech market had ever seen [See Deal]. Three years on—in very different market circumstances--it was OGS' remaining cash that became central to the European biotech sector's first bidding war. Yet notwithstanding the group's £136 million war chest as of the end of 2002, OGS ultimately sold to UCB Celltech in late April 2003 for only £101.4 million [See Deal].

In current markets, it's not unusual to see biotech companies trading—and being sold—below cash. Yet given the interest in OGS—at...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on In Vivo for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Global Vision

By The Numbers: Phase III Trials In China Skyrocket While Phase I Falls To Earth

 
• By Mainbayar Badarch

China has rapidly expanded its clinical trial footprint since 2015, driven by regulatory reforms and increased investment in pharma R&D. By 2023, it matched the US in trial volume. Oncology leads, but biologics are leading in momentum.

Navigating the GLP-1 Opportunity In China: Strategic Imperatives For Western Pharma

 
• By Jo Shorthouse

The Chinese appetite for GLP-1s is noticeable. While the market opportunity for western pharma is huge, so are the strategic market access challenges, though not unsurmountable, L.E.K. Consulting told In Vivo.

Can Italy Shake Off Its Reputation And Become A Premier Hub For Biotech?

 
• By Barnaby Pickering

Leading industry experts have spoken to In Vivo about how investment, a change in mindset and a fresh approach to policy may allow Italy to kick-start its biotech ecosystem.

Global Pharma Interest In Korea Undeterred Despite Political Roller Coaster

 
• By Jung Won Shin

Despite recent political turmoil, outside investor and corporate interest in South Korean biopharma innovation appears robust or even increasing.

More from In Vivo

Podcast: Tevard CEO Sees Hope For His Daughter In Company’s tRNA Platform

 
• By David Wild

Tevard Biosciences CEO Daniel Fischer discusses how engineered suppressor tRNAs overcome nonsense mutations, restoring full-length protein production to treat rare genetic diseases like Dravet syndrome.

Execs On The Move: July 2025

 
• By In Vivo Team

An interactive look at recent executive-level company changes and promotions in the biopharma, medical device and diagnostics industries.

Deals In Depth: July 2025

 
• By Deanna Kamienski and Maureen Riordan

Six $1bn+ alliances were penned in July, and two exceeded $2bn.