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| home > ebr > spring 2004 > understanding due diligence - taking a practical approach |
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European BioPharmaceutical Review
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How should we view due diligence? An interminable chore befitting of none but the most deserving of lawyers, or a 'value adding' process benefiting all those under whose watchful eye it falls? This article looks at some of the whys and whats involved, putting it into the context of the deal hungry biotech sector. At every turn along the road to becoming a successful biotech you will encounter due diligence: when fundraising, partnering, licensing, buying or selling, even (in fact especially) at IPO but then who wouldn't gladly throw themselves into the process in that context at present? All too often due diligence is viewed as an overly intrusive process, soaking up much valuable time and resource for no great return. Here we'll examine the process, the reasons for it and offer practical guidance as to how it can be handled.
Why HAS the Need ARISEN?
The legal concept of caveat emptor (buyer beware) applies to private share acquisitions in the UK. When you buy a company or buy into a company you do so at your own risk, acquiring it 'warts and all'. There is no overriding duty on the part of a seller or an issuer of shares (in a private company context, that is outside the Companies Act's prospectus requirements and the Public Offering of Securities Regulations relating to public offers of shares) to make full disclosure to a buyer (as opposed to the overriding duty of answering truthfully in the face of direct questions asked). In buying for the upside you also take on the downside risk, past as well as future.
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HOLLYWOOD, Fla. – Azopharma Product Development Group, Inc. (“Azopharma”) announced today the addition of innovative state-of-the-art equipment at its formulation and manufacturing division, ApiCross Drug Delivery Technologies in Hollywood, Florida. The most recent acquisition is the MG Futura Capsule Filler which delivers the latest in capsule filling technology. The company has also added a Bausch & Strobel Aseptic Filling Isolator, equipment that is ground-breaking in the powder filling process. These additions support our previously implemented XcelodoseTM powder micro-dosing system. With these technologies, Azopharma is able to provide its clients with all forms of the capsule filling process. The new equipment is part of Azopharma’s recent manufacturing expansion which includes 17 new manufacturing suites for GMP, cytotoxic and aseptic products...
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