OTHER NEWS - Dec. 17, 1991
From Times Staff and Wire Reports
Sandoz Buying 60% of California Biotech Firm: The Swiss pharmaceutical giant will take control of SyStemix Inc. of Palo Alto for $392 million, the firms announced. Sandoz plans a tender offer of $70 per share for 49% of SyStemix’ common stock, or 4 million shares. Sandoz also said it will pay $111 million to buy nearly 2 million shares of SyStemix common stock at $56 per share. SyStemix said the acquisition will allow it to build on its work developing cellular processes and products based on human cells.
