Stephen Simpson, CFA • 44 Comments
Jul. 15, 2015, 10:36 AM
- Celgene's (CELG +9.5%) $7.2B deal for Receptos (RCPT +10.3%) is “a great acquisition at a great price," Nomura analysts say, as ozanimod could enable CELG's inflammation and immunology franchise to double peak sales to $10B and reduce reliance on Revlimid to drive future growth, and the acquisition price of less than 2x peak sales is a steep discount relative to recent comparisons.
- Wedbush analyst Liana Moussatos sees plenty of potential upside to justify a rival bidder stepping in for RCPT, noting that she had estimated the company could be valued at $348/share, or ~$10.9B, in a buyout, substantially more than CELG's $232 offer.
- The deal is boosting some biotech names (IBB +1.9%), including PTC Therapeutics (PTCT +11.7%), Celsion (CLSN +7.1%) and Arena Pharmaceuticals (ARNA +6.7%).
Jun. 11, 2014, 6:18 PM
- During a CNBC Fast Money appearance, Arena (ARNA) CEO Jack Lief was tight-lipped about rumors Belviq partner Eisai (ESALY) is interested in acquiring his company.
- Investors trying to read between the lines see reasons to be hopeful.
- Lief also mentioned Belviq prescriptions are seeing week/week growth.
Jul. 9, 2012, 10:56 AM
Arena Pharmaceuticals (ARNA +4.3%) rallies with the help of a Sunday Bloomberg column discussing potential M&A interest in the drug developer, thanks to recent FDA approval of its Belviq weight-loss drug. Analysts speculate GlaxoSmithKline (currently divesting a diet pill line) or Japan's Eisai (the U.S. launch partner for Belviq) could make a bid. 25.3% of Arena's float was shorted as of June 15.| Jul. 9, 2012, 10:56 AM | 6 Comments