UCB mulls getting out of chemicals, after bid for Celltech

Belgian pharmaceutical and chemicals group UCB, which recently made an agreed $2.7 billion bid for UK biotechnology firm Celltech (Marketletter May 24), is reportedly considering a move out of the chemicals sector. The Financial Times quotes analysts as suggesting that this business, which is largely involved in industrial coatings and adhesives, could have a price tag of over $1 billion and may be of interest to Dutch firms Akzo Nobel or DSM. Another option would be a merger with fellow Belgian group Solvay, in which the Janssen family, which holds 40% of UCB, has a similar stake.