Biocentras, a Vilnius-based producer of biotechnology products, entered the shortlist of final five in the European competition aimed at selecting most innovative biotechnology companies. Apart from the Lithuanian firm, the EuropaBio’s top five included German, Belgian and two Dutch pharmaceutical companies.

Over several recent years, Biocentras has presented a number of innovative products on the international market, such as cancer treatment drugs and preparations against skin burn, cough and sore throat.

EuropaBio is an annual event arranged and financed by an American businessman. The competition is aimed at selecting most viable small- and medium-size biotechnology companies in Europe in order to spur their development. In addition to that, the competition brings the successful companies to the spotlight for potential investors.

To date, two large takeover deals have been completed in Lithuania’s biotechnology sector. Teva, an international pharmaceutical corporation, paid 262 million litas for Biotechna in 2001, while the US company Thermo Fischer Scientific took over Fermentas International in 2010 in a deal worth more than 700 million litas.

Source: Verslo Žinios , November 17, 2011