Tue, Jun. 2, 12:30 PM
- According to Bloomberg, AstraZeneca (AZN +0.1%) CEO Pascal Soriot said that his firm would consider buying a company like Juno Therapeutics (JUNO +12.9%).
- This isn't too surprising since oncology represents only 11% of AZN's business. CAR-Ts are all the rage in the cancer space. If their initial success can be validated in late-stage trials, they will command premium prices once approved, probably in the neighborhood of $500K per procedure. Acquiring one of the leaders would be a logical move for most members of Big Pharma or a number of larger biotechs. Juno's market cap is only $5.5B so it is not expensive if viewed on a long term basis.
- Related tickers: (KITE +5.4%)(BLUE -0.5%)(BLCM +8.2%)(ZIOP +4%)(CLLS +4.4%)
ZIOPHARM Oncology Inc is a biopharmaceutical company. The Company is engaged in the acquiring, developing and commercializing portfolio of cancer therapies that can address unmet medical needs through synthetic biology.
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