839

News

Historic merger: Danish biotech giants to link up

Christian Wenande
December 13th, 2022


This article is more than 2 years old.

Novozymes and Chr Hansen, whose health products overlap, bring combined revenue of 26 billion kroner to the table

One of the biggest mergers in recent Danish history is underway following revelations that biotech giants Novozymes and Chr Hansen are looking to combine forces.

Expected to be completed by the end of 2023, the move will see Novozymes continue on as a company and the dissolution of Chr Hansen.

“The combination of two strategically complementary companies with a shared purpose and advanced capabilities will show the world the true power of biosolutions,” said Novozymes CEO Ester Baiget, who will lead the merged company going forward.

“Novozymes and Chr Hansen share the strong conviction that our combined scale, know-how, commercial strengths and innovation excellence will drive value for our customers, employees and society at large by providing the sustainable solutions the world so urgently needs.”

READ ALSO: Lego and Novo Nordisk rated among top employers by professionals

A “perfect match”
The merger, which will require approval of the authorities, would see the leading enzyme producers link up with a combined revenues of over 26 billion kroner.

The merger is expected to save the two companies 1.5 billion kroner over four years through so-called synergy gains.

Novo Holdings, the leading shareholder in both companies, described the merger as a “perfect match”. Chr Hansen was equally enthusiastic.

“I’m proud to share that Novozymes and Chr Hansen are proposing to join forces to create a Danish-based global biosolutions partner based on our strong complementary technology platforms, highly dedicated employees and customer-centric approaches,” said Chr Hansen CEO Mauricio Graber.

“Building on shared purpose-driven values and cultures, as well as an unquestionable business rationale, the proposed combination of these two iconic Danish companies represents a natural next step towards addressing the needs of tomorrow.”


Share

Most popular

Subscribe to our newsletter

Sign up to receive The Daily Post

















Latest Podcast

A survey carried out by Megafon for TV2 has found that 71 percent of parents have handed over children to daycare in spite of them being sick.

Moreover, 21 percent of those surveyed admitted to medicating their kids with paracetamol, such as Panodil, before sending them to school.

The FOLA parents’ organisation is shocked by the findings.

“I think it is absolutely crazy. It simply cannot be that a child goes to school sick and plays with lots of other children. Then we are faced with the fact that they will infect the whole institution,” said FOLA chair Signe Nielsen.

Pill pushers
At the Børnehuset daycare institution in Silkeborg a meeting was called where parents were implored not to bring their sick children to school.

At Børnehuset there are fears that parents prefer to pack their kids off with a pill without informing teachers.

“We occasionally have children who that they have had a pill for breakfast,” said headteacher Susanne Bødker. “You might think that it is a Panodil more than a vitamin pill, if it is a child who has just been sick, for example.”

Parents sick and tired
Parents, when confronted, often cite pressure at work as a reason for not being able to stay at home with their children.

Many declare that they simply cannot take another day off, as they are afraid of being fired.

Allan Randrup Thomsen, a professor of virology at KU, has heavily criticised the parents’ actions, describing the current situation as a “vicious circle”.

“It promotes the spread of viruses, and it adds momentum to a cycle where parents are pressured by high levels of sick-leave. If they then choose to send the children to daycare while they are still recovering, they keep the epidemic going in daycares, and this in turn puts a greater burden on the parents.”