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McCulloughs in further Hospira buyouts

McCulloughs in further Hospira buyouts

HOSPIRA INC has also been busy elsewhere, having recently purchased a 90 per cent stake in Adelaide-based biotechnology company BresaGen, which was advised by McCullough Robertson.Hospira was…

HOSPIRA INC has also been busy elsewhere, having recently purchased a 90 per cent stake in Adelaide-based biotechnology company BresaGen, which was advised by McCullough Robertson.

Hospira was advised by Baker & McKenzie and JP Morgan.

The friendly $21 million takeover bid was completed in near record time, according to McCulloughs.

“BresaGen is delighted with the result, and will be able to leverage its world class manufacturing facilities through Hospira’s global network,” said Stephen Jones, retiring chairman of BresaGen Limited.

“We would like to thank the team at McCullough Robertson for their assistance. The board and I were very pleased at just how smoothly and efficiently the transaction was handled, with an integrated, knowledgeable and highly responsive team.”

Another client of McCulloughs, Cbio Limited, which had acquired a major stake in BresaGen Limited when it was restructured in 2004, will use the additional funds to progress further clinical trials for its product, which has shown positive indications in multiple sclerosis, arthritis and psoriasis.

McCullough’s team included partner Brett Heading, senior associate Reece Walker and solicitor Susan Kennedy.

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