Aug. 5, 2014, 7:46 AM
Jul. 31, 2014, 5:42 PM
- Idenix Pharmaceuticals (NASDAQ:IDIX): Q2 EPS of -$0.43 misses by $0.22.
Jun. 20, 2014, 8:13 AM
Jun. 16, 2014, 3:48 PM
- Merck (MRK -0.3%) shareholder Ronald Burns files suit (Burns vs Idenix Pharmaceuticals) attempting to block its $3.9B acquisition of Idenix (IDIX +1.4%) stating that the price undervalues IDIX. He cites IDIX's intrinsic value and a flawed process that prevents competing bids.
- The deal includes a no-solicitation clause, grants MRK the right to match any superior offer and stipulates a $115.6M termination fee. Mr. Burns alleges that these clauses virtually assure Merck gets the deal.
Jun. 12, 2014, 3:57 PM
- At an investors meeting in Los Angeles, Merck (MRK -0.9%) EVP and President, Merck Research Laboratories Roger Perlmutter, M.D., Ph.D., says the company will consider large acquisitions as way to expand its product portfolio rather than obtain drug-development technologies. He says Merck continues to have an appetite for deals following its recent buy of Idenix (IDIX +0.3%) for $3.85B.
Jun. 10, 2014, 11:39 AM
- RBC's Michael Yee believes that Gilead's (GILD +0.6%) 4% drop yesterday in response to Merck's (MRK +0.4%) buy of Idenix (IDIX -0.3%) creates a nice buying opportunity. He says Sovaldi sales could hit $12B in 2015 driving EPS to $8 - 10 meaning the firm would likely sport a modest earnings multiple of only 8 - 10.
- Mr. Yee states that the consensus view is that the U.S. HCV market will begin to deteriorate by 2016 but other long-term markets (ex-U.S.) are sustainable.
Jun. 9, 2014, 2:11 PM
- Right on cue, legal troll Rigrodsky & Long announces its investigation (and shareholder recruitment) into whether the Idenix (IDIX +231.8%) BOD breached its fiduciary duty by not shopping the company around before agreeing to Merck's (MRK -0.1%) $24.50/share offer. Apparently, a ~240% premium isn't enough.
Jun. 9, 2014, 12:45 PM
Jun. 9, 2014, 11:41 AM
- Boston-base Baupost Group LLC, the hedge fund run by highly-respected value investor Seth Klarman, stands to reap a hefty $900M profit from its 53.3M share stake in Idenix Pharmaceuticals (IDIX +234%) in light of Merck's (MRK -0.1%) $3.85B offer ($24.50/share). This is a superb example of why he runs $27B in institutional money. Since 1983, his fund's average annual gain has been 17% versus the S&P 500's 11%.
Jun. 9, 2014, 9:13 AM
Jun. 9, 2014, 7:59 AM
Apr. 7, 2014, 12:45 PM
Mar. 14, 2014, 7:31 AM
- Idenix Pharmaceuticals (IDIX) files patent infringement lawsuit against Gilead Sciences (GILD) in France, Germany and the UK.
- The suit pertains to European patent EP 1 523 489 that covers 2-methyl-2-fluoro nucleosides for the treatment of Hep C.
- The company seeks remedies regarding Gilead's commercial activities with its drugs containing sofosbuvir.
Mar. 10, 2014, 9:19 AM
- Shares of Idenix Pharmaceuticals (IDIX) are up almost 17% premarket on no significant news.
- Consensus revenue estimates for 2014 and 2015 are $1.5M and $7.7M, respectively.
- 175 mutual funds have positions, down from 198 a year earlier.
- Three analysts rate the company at least Buy, eight rate it Hold, two rate it Underperform and one rates it Sell.
Feb. 14, 2014, 10:19 AM
- In its Q4 13F, activist investor Sarissa Capital discloses it has a 5.05M-share (3.3%) stake in Idenix Pharmaceuticals (IDIX +1.8%). Shares initially jumped on the disclosure, but have quickly given back some of their gains.
- Last year, Sarissa took part in a successful proxy battle against Vivus. The firm now has Ariad Pharmaceuticals in its sights.
Feb. 4, 2014, 5:39 PM
Idenix Pharmaceuticals, Inc. is a biopharmaceutical company engaged in the discovery and development of drugs for the treatment of human viral diseases with operations in the United States and Europe.
Country: United States