WASHINGTON, June 27 (RIA Novosti) - Biocad, the St. Petersburg-based biopharmaceutical company, has hired the American financial services firm William Blair and Company to help it find a foreign buyer, Bloomberg.com reported Thursday.
Biocad is majority-owned by Gazprombank, which manufactures cancer chemotherapies, a generic multiple sclerosis treatment, and drugs to fight genital and viral infections. Recent research has been dedicated to developing “biosimilars,” generic versions of cancer drugs.
Bloomberg also reported that Biocad is currently recruiting patients for studies of copies of Swiss healthcare company Roche Holding AG’s top-selling anti-cancer drugs, Herceptin, Avastin and Rituxan.
Confidential sources with information about the private talks said that Biocad is worth between $750 million and $1 billion. US pharmaceutical giant Pfizer Inc. and the multinational biotechnology company Amgen Inc. are two of three remaining bidders, Bloomberg reported.
