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Sam Subramanian's  Instablog

Sam Subramanian is editor and publisher of the highly acclaimed AlphaProfit Sector Investors’ Newsletter. The Newsletter has been ranked #1 several times by Hulbert Financial and has featured among MartketWatch’s top 10 investment newsletters. Sam is well known for his sector analysis... More
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  • Deals return to the biotech space 0 comments
    Sep 4, 2009 09:14 PM | about stocks: DNPUF.PK, BIIB, SEPR, FACT, TRBN
    On July 27, I had commented on deals being one of the factors driving stock prices in the biotech group. The spate of deals continues.

    Earlier this week, Sepracor (SEPR) agreed to be bought by Japan's Dainippon Sumitomo Pharma (    DNPUF.PK) for $2.6 billion. This purchase will enable Dainippon to gain a U. S. sales force along with experimental treatments for asthma, allergic rhinitis, and insomnia.

    Today, Biogen Idec (BIIB) made an unsolicited $356 million cash takeover offer for drug partner Facet Biotech (FACT). The $14.50 a share offer represents a 64% premium to Facet's share price. Earlier Facet rejected a higher offer from Biogen to collaborate with Trubion Pharmaceuticals (TRBN).
     
    Themes: Biotech, Mergers, Healthcare Stocks: DNPUF.PK, BIIB, SEPR, FACT, TRBN
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