Hoare Govett, broker and financial adviser to Bioglan Pharma, the UK-listed specialist pharmaceuticals company, is fighting to keep alive a $750m (€823m) acquisition deal amid financing disagreements.

Bioglan has been locked in talks with Bristol-Myers Squibb for the past six weeks over the purchase of the US pharmaceutical company's skin care treatment business. Negotiations have stalled over price and Bioglan's ability to fund the acquisition, according to sources close to the deal.