Johnson & Johnson to Acquire Tibotec-Virco
By Biotechdaily staff writers
Posted on 22 May 2002
In a move that will expand its capabilities in drug-development, Johnson & Johnson (New Brunswick, NJ, USA) has agreed to acquire Tibotec-Virco NV (Mechelen, Belgium). The transaction is valued at about US$320 million in cash and debt. Posted on 22 May 2002
Tibotec-Virco is focused on developing antiviral treatments and has several promising compounds in development for the treatment of infectious diseases, including drug-resistant HIV and hepatitis C. The company provides HIV drug resistance testing and other analytical services under the name of Virco. Tibotec also has operations in Ireland and the United States.
"Tibotec-Virco will provide a good strategic fit with our current pharmacuetical research and development operations,” said Dr. Per Peterson, chairman, research & development for the pharmaceuticals group of J&J. "By combining Tibotec-Virco's expertise with our own research and development activities, we will expand our drug discovery and development capabilities, particularly in the field of antiviral therapies.”
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