According to The Guardian a British biotech firm confirmed yesterday that it had held takeover talks with the struggling drugs firm SkyePharma. Innovata, created from the merger of ML Laboratories and Quadrant Technologies this year, said only that there had been "early stage discussions".
Innovata, led by Kieran Murphy, is said to have approached SkyePharma last month about a tie-up but neither the price nor structure of a deal were discussed.
The announcement puts to rest rumours about the identity of SkyePharma's suitor after hopes of an auction were raised by news of the unsolicited approach 10 days ago. At the time the talk was all about Novartis being the sutor.
Innovata...... Novartis. If you whisper the two names they do sound similar. Could it be that someone in the City just misheard the rumor!?
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