BioMarin Pharmaceutical Inc.NASDAQ
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  • Fri, Nov. 18, 11:13 AM
    • Barron's Ben Levisohn reports that Gilead Sciences (GILD -1.3%) has a range of attractive candidates should it decide to spend some its $32B cash hoard on an acquisition, a virtual certainty after the recent momelotinib disappointment.
    • Considering the company's stated interest in oncology, obvious choices are Incyte (INCY -1.1%) and TESARO (TSRO -3%).
    • Venturing out into the rare disease space, Alexion Pharmaceuticals (ALXN -1.6%), Vertex Pharmaceuticals (VRTX -1.6%) and BioMarin Pharmaceutical (BMRN -1.1%) are attractive fare.
    • None of these companies are a surprise to biotech followers. All have been noted as buyout targets for some time now.
    | Fri, Nov. 18, 11:13 AM | 36 Comments
  • Thu, Jul. 7, 8:28 AM
    | Thu, Jul. 7, 8:28 AM | 2 Comments
  • Fri, Jun. 17, 8:52 AM
    • BioMarin Pharmaceutical (NASDAQ:BMRN) is ahead 5% premarket on increased volume on rumors that Sanofi (NYSE:SNY) may be mulling a takeover. BioMarin is still down almost 50% since last summer, but up almost 30% since bottoming at $62.12 on February 9.
    | Fri, Jun. 17, 8:52 AM | 3 Comments
  • Jun. 11, 2015, 7:59 AM
    • RBC Capital Markets' Michael Yee says (NASDAQ:DYAX) would be a juicy acquisition for the likes of Sanofi (NYSE:SNY), Alexion Pharmaceuticals (NASDAQ:ALXN) or BioMarin Pharmaceutical (NASDAQ:BMRN). He thinks the takeout price could be as high as $39 per share or 59% above yesterday's close of $24.53.
    • Dyax's allure pertains to its investigational drug for hereditary angioedema (HAE), Fast Track-designated DX-2930, which has performed well in early-stage studies. The only approved therapy for HAE is Shire's (NASDAQ:SHPG) Cinryze [C1 esterase inhibitor (human)] which costs as much as $630K per year. Its on track to be Shire's #2 seller in two years.
    • Previously: Dyax +39.1% on positive DX-2930 trial results (March 31)
    • Previously: Dyax scores Orphan designation for HAE treatment (Dec. 5, 2013)
    | Jun. 11, 2015, 7:59 AM
  • Mar. 5, 2015, 8:52 AM
    • AbbVie's (NYSE:ABBV) extraordinarily generous buyout of Pharmacyclics (NASDAQ:PCYC) is a crystal clear example of how keen big pharma is to boost its prospects with biotech drugs with blockbuster potential. The transaction's $20B tab, backing out PCYC's $1B cash balance, values Imbruvica (ibrutinib) at $40B since Pharmacyclics' commercial partner Johnson & Johnson (NYSE:JNJ) gets 50% of Imbruvica's revenue. This implies a multiple of almost 7x Imbruvica's projected peak sales of $6B. By comparison, Amgen's (NASDAQ:AMGN) takeout of Onyx Pharma and Sanofi's (NYSE:SNY) takeout of Genzyme were both at 5x premiums.
    • The looming patent expiration for Humira ($12.5B in sales the past four quarters) undoubtedly provided AbbVie extra incentive to get the deal done.
    • Adding 50% of Imbruvica's sales to AbbVie's top line should increase its revenue growth 3 - 7% and EPS growth 8 - 11% through 2020.
    • According to RBC analyst Michael Yee, other biotechs on the big ticket acquisition radar are: BioMarin Pharmaceuticals (NASDAQ:BMRN), Dyax (NASDAQ:DYAX), Esperion Therapeutics (NASDAQ:ESPR), United Therapeutics (NASDAQ:UTHR), Vertex Pharmaceuticals (NASDAQ:VRTX), Intercept Pharmaceuticals (NASDAQ:ICPT), Juno Therapeutics (NASDAQ:JUNO), Kite Pharma (NASDAQ:KITE), PTC Therapeutics (NASDAQ:PTCT) and Receptos (NASDAQ:RCPT).
    | Mar. 5, 2015, 8:52 AM | 5 Comments
  • Feb. 23, 2015, 12:32 PM
    • Orphan drug developer PTC Therapeutics (PTCT +16.1%) is exploring selling itself amid rumors of interest from Shire plc (SHPG +1.9%) and BioMarin Pharmaceuticals (BMRN +1.8%).
    • PTC's lead product candidate is Translarna (ataluren) for the treatment of patients with genetic disorders due to a nonsense mutation. It is in clinical development for Duchenne muscular dystrophy (DMD) caused by a nonsense mutation (nmDMD) and cystic fibrosis caused by a nonsense mutation (mnCF). The FDA designated it an Orphan Drug for both indications.
    • The company's market cap is $2.2B while DMD competitor Sarepta Therapeutics is valued at $637M. BioMarin gobbled up the other DMD player, Prosensa Holding N.V. in November for $680M plus milestones.
    • Previously: BioMarin buys Prosensa (Nov. 24, 2014)
    | Feb. 23, 2015, 12:32 PM | 2 Comments
  • Nov. 24, 2014, 8:58 AM
    • Sarepta Therapeutics (NASDAQ:SRPT) is up 14% premarket on robust volume in response to BioMarin Pharmaceuticals' (NASDAQ:BMRN) announced acquisition of Prosensa Holding N.V. (NASDAQ:RNA) for $680M.
    • Some observers believe Sarepta's Duchenne muscular dystrophy drug eteplirsen is better than Prosensa's drisapersen which makes it a more attractive acquisition target.
    • Previously: BioMarin buys Prosensa
    • Previously: Sarepta +11.2% following FDA statement
    | Nov. 24, 2014, 8:58 AM
  • Nov. 24, 2014, 7:28 AM
    • BioMarin Pharmaceuticals (NASDAQ:BMRN) acquires Prosensa Holding N.V. (NASDAQ:RNA) for $17.75 per share (~$680M) plus ~$80M in milestones related to the regulatory approvals of drisapersen in the U.S. no later than May 15, 2016 and in Europe no later than February 15, 2017.
    • The FDA is currently assessing the drisapersen NDA under a rolling review process. The Duchenne muscular dystrophy drug has Orphan Drug, Fast Track and Breakthrough Therapy designations.
    • In addition to the terms of the acquisition agreement cited above, BioMarin will purchase a $50M convertible note from Prosensa within five days of signing the contract. If the transaction fails to close for any reason, the note will automatically convert into 4,395,914 shares of RNA stock.
    • RNA is up 65% premarket to $18.87 on light volume.
    | Nov. 24, 2014, 7:28 AM
  • Oct. 23, 2013, 11:47 AM
    • Is Roche (RHHBY +0.4%) really interested in Alexion (ALXN -0.4%) or BioMarin (BMRN +0.1%)? CEO Severin Schwan isn't telling, but he did say at a Paris conference that the company will "go where the science takes it, wherever it is, independent from the size of the patient population," suggesting a move into rare and orphan diseases.
    • Regarding the company's attempt to expand beyond core cancer treatments, Schwan mentioned autoimmune, inflammatory diseases, and neuroscience, noting that in these "three areas naturally [Roche] is a partner of choice for many companies [and] if there was an interesting opportunity outside of those established areas, I would be very open to look at it."
    • More on Roche/ALXN speculation here, and on BMRN chatter here
    | Oct. 23, 2013, 11:47 AM
  • Sep. 19, 2013, 8:56 AM
    • So much for that. It now appears Roche (RHHBY.OB) is not seeking financing for a BioMarin (BMRN) bid, Bloomberg says, citing CEO Severin Schwan.
    • Just like that, BMRN's premarket gains are cut to 3%.
    • Previous coverage here.
    | Sep. 19, 2013, 8:56 AM
  • Sep. 19, 2013, 7:35 AM
    • Did the high price tag on Alexion (ALXN) frighten Roche (RHHBY.OB) into looking at other targets? Rumors of a Roche-ALXN deal were played down in July by the likes of Deutsche, Kepler Cheuvreux, and Adam Feuerstein, as it became clear that the price tag (perhaps more than $20B) was simply too much to swallow.
    • Now it appears Roche has its sights on a slightly less expensive target in BioMarin (BMRN) which, as we reminded investors Tuesday, is no stranger to acquisition rumors.
    • DealReporter claims Roche is lining up around $15B in financing for a bid of between $95-105/share for BMRN, valuing the company at between $13.3B and $14.7B.
    • Roche is the world's largest maker of cancer drugs and a deal would give the company BMRN's PARP inhibitor BMN 673 (along with the rest of the pipeline and four commercialized products which together had total revenue of around $140M in Q2).
    • ALXN -0.9% premarket (low volume), BMRN +11% premarket
    | Sep. 19, 2013, 7:35 AM
  • Sep. 19, 2013, 7:06 AM
    | Sep. 19, 2013, 7:06 AM
  • Sep. 17, 2013, 3:15 PM
    • The rally in Clovis Oncology (CLVS +5.9%) seems to be fading a bit after the stock jumped nearly 18% on a Bloomberg report which suggested the company may be pursuing a sale.
    • Worth watching on the news is Ariad (ARIA +3.6%), which rallied when the story broke. ARIA's AP26113 is an ALK, EGFR, and ROS1 inhibitor. CLVS' lead compound CO-1686 is also an EGFR inhibitor.
    • Likewise getting a bump around the time the news hit was Tesaro (TSRO +0.2%), whose Niraparib is (like CLVS' Rucapari) a PARP inhibitor.
    • Another notable company with a PARP inhibitor: BMRN, which is itself no stranger to acquisition rumors.
    | Sep. 17, 2013, 3:15 PM
  • Jul. 30, 2013, 3:10 PM
    • In a replay of what happened when the Alexion/ Roche rumors first started flying, shares of BioMarin (BMRN +3%) rally on news Alexion has hired Goldman to advise on a possible buyout offer.
    • REGN also shot higher around the time the ALXN news broke.
    | Jul. 30, 2013, 3:10 PM | 1 Comment
  • Jul. 12, 2013, 3:50 PM
    Stocks moving higher on the rumored Alexion/ Roche deal include BioMarin (BMRN +7.7%) — which is already the subject of takeout rumors — Vertex Pharmaceuticals (VRTX +3.5%), Regeneron (REGN +6.9%), and the iShares Biotech ETF (IBB +2.4%).
    | Jul. 12, 2013, 3:50 PM
  • Jul. 2, 2012, 2:38 PM
    Piper Jaffray looks at other potential takeout candidates in the biotech space post-Amylin, highlighting BioMarin (BMRN +3.8%), Affymax (AFFY +1%), Theravance (THRX +8.3%), and Rigel Pharmaceuticals (RIGL +2.3%) all as potential candidates. Piper notes that BioMarin could fetch as much as $79 per share, and notes that Japanese drug heavyweight Takeda Pharmaceuticals (TKPYY.PK) could be the most likely suitor for Affymax.
    | Jul. 2, 2012, 2:38 PM