Boehringer Ingelheim beefs up vet portfolio with GST buyout; Novartis, Austria to invest €150M in European manufacturing deal – Endpoints News

One year af­ter the Eu­ro­pean launch of Ar­ti-Cell Forte — a stem cell prod­uct used to treat lame­ness in hors­es — Boehringer In­gel­heim has ac­quired Bel­gian vet­eri­nary biotech com­pa­ny Glob­al Stem cell Tech­nol­o­gy (GST) with an eye to ex­pand­ing its port­fo­lio of an­i­mal health drugs.

Boehringer ranked as the world’s sec­ond largest an­i­mal health com­pa­ny in 2019, be­hind New Jer­sey-based Zoetis, with about €19 bil­lion (or $21.7 bil­lion) in to­tal net sales. It ini­tial­ly part­nered with GST in 2018, and the re­sult­ing Ar­ti-Cell Forte was the first vet­eri­nary stem cell med­i­cine to gain mar­ket au­tho­riza­tion from the Eu­ro­pean Com­mis­sion.

Er­ic Haaks­ma

Boehringer hopes the ac­qui­si­tion will lead to an ac­cel­er­at­ed de­vel­op­ment pipeline and ex­pand­ed vet­eri­nary port­fo­lio. Last year, the com­pa­ny pumped €3.5 bil­lion (or $4.1 bil­lion) in­to R&D. The 2 com­pa­nies are keep­ing the terms of the deal un­der wraps.

“This de­ci­sion is ful­ly aligned with our re­cent­ly re­fo­cused strate­gic di­rec­tion,” Boehringer In­gel­heim An­i­mal Health head of glob­al in­no­va­tion Er­ic Haaks­ma said in a pre­pared state­ment. “Stem cell re­search ar­eas and re­gen­er­a­tive med­i­cine of­fer an ex­cit­ing po­ten­tial for the next wave of in­no­va­tion we are ac­tive­ly pur­su­ing. In ad­di­tion, strength­en­ing ex­ter­nal part­ner­ships to ac­cel­er­ate our in­no­v­a­tive ef­forts and growth is one of the key el­e­ments of our strat­e­gy.”

Ear­li­er this month, Boehringer des­ig­nat­ed $507.9 mil­lion to build a new Ex­ter­nal In­no­va­tion Hub in Shang­hai. It al­so be­gan col­lab­o­rat­ing with Num­ab Ther­a­peu­tics to de­vel­op drugs for lung and gas­troin­testi­nal can­cers, and ge­o­graph­ic at­ro­phy.

No­var­tis and Aus­tri­an gov­ern­ment nav­i­gate pro­posed deal to boost