BASF Aims for Top Spot in Omega-3 API Market with Pronova BioPharma Acquisition

Abstract

In order to attain a leading position in the global omega-3 API market, the German chemical company BASF has made a voluntary offer to acquire Pronova BioPharma, the originator of the blockbuster omega-3 derived drug Lovaza®/Omacor® (omega-3-acid ethyl esters), for a total enterprise value of NOK4845 M (US$844 M). The deal follows BASF’s May 2012 acquisition of Equateq, a UK-based manufacturer of concentrated omega-3 fatty acids.