Baird calls rumors of a GlaxoSmithKline (GSK +1.7%) takeout of Biomarin (BMRN +2.2%) "gossip"...

|About: GlaxoSmithKline (GSK)|By:, SA News Editor

Baird calls rumors of a GlaxoSmithKline (GSK +1.7%) takeout of Biomarin (BMRN +2.2%) "gossip" after an article in the Telegraph suggested the company was in " advanced" talks to acquire the drug developer. Baird notes many details were lacking in the report, and, more curiously, is that such a deal would happen before "transformational data readouts" from clinical studies that are expected by the end of the year. A "takeout does make sense, just not now," the firm asserts.