Tue, Jul. 28, 2:38 AM
- So what's Allergan (NYSE:AGN) doing with all that cash from the Teva deal? CEO Brent Saunders plans to use the money to increase the size of the firm's existing drug business, expand into new therapy areas and pursue larger deals.
- When asked if Allergan planned to spend the cash within 18 months, Saunders replied that he would, as long as the company could maintain its investment-grade credit rating.
- Possible targets: Biogen (NASDAQ:BIIB), AbbVie (NYSE:ABBV) and Amgen (NASDAQ:AMGN).
- Previously: Teva to buy Allergan Generics for $40.5B (Jul. 27 2015)
Sun, Jan. 11, 10:14 PM
- In the context of accelerating the growth of its pain portfolio, Biogen (NASDAQ:BIIB) acquires Cambridge-based Convergence Pharmaceuticals, a clinical-stage biotech whose technology platform is based on ion channel electrophysiology and ion channel medicinal chemistry. Biogen is particularly interested in CNV1014802, a small molecule state-dependent sodium channel blocker, currently being developed for the treatment of neuropathies like lumbosacral radiculopathy (sciatica) and trigeminal neuralgia.
- Under the terms of the acquisition agreement, Biogen will pay Convergence shareholders an upfront payment of $200M and up to $475M in milestones. The transaction is expected to close this quarter.
Apr. 12, 2013, 10:59 AMElan's (ELN -1.3%) shareholders have overwhelmingly approved a plan to buy back $1B in stock following the sale of Tsabri to Biogen Idec (BIIB +2.4%), as speculation mounts that an earlier takeover indication by Royalty Pharma might be sweetened. Royalty approached ELN in February with an $11 per share potential offer, valuing the company at $6.55B, which was rejected by ELN. Last week, Ireland's Takeover Panel told the pharmaceutical investor to either step up and announce an official takeover offer for the company by May 10, or walk away. | Comment!
Apr. 2, 2013, 6:08 PMBiogen Idec (BIIB) completes its purchase of Elan's (ELN) interest in Tysabri, gaining full strategic, commercial and decision-making rights to the relapsing MS drug treatment. [BIIB plans to give further details and updated financial guidance during it's upcoming Q1 earnings announcement. Shares +0.3% AH. | Comment!
Feb. 6, 2013, 4:08 PM
Feb. 6, 2013, 3:16 AMBiogen Idec (BIIB) has agreed to acquire full ownership of multiple-sclerosis drug Tysabri from Elan (ELN) for $3.25B plus future royalty payments. Biogen has co-marketed the injectable treatment, which generated revenue of $1.6B last year, with Elan for twelve years, with both firms splitting the profit until now. The deal comes as Biogen awaits approval for its BG-12 pill to treat MS. (PR) | 1 Comment
Feb. 14, 2012, 9:08 AMBiogen (BIIB) agrees to acquire Stromedix, a privately-held developer of treatments for fibrosis and organ failure, for $75M in cash and potential additional payments of up to $487.5M. Stromedix's most advanced candidate, STX-100, is a monoclonal antibody that has shown promise in early stage trials to treat fibrosis. BIIB -0.5% premarket. | Comment!
Oct. 17, 2011, 6:13 PMGlaxoSmithKline (GSK) may bid $25/share for Human Genome Sciences (HGSI), the Daily Mail speculates, citing their partnership in developing the FDA-approved lupus drug Benlysta. With Merck (MRK) and Biogen (BIIB) also sniffing around the company, GSK "could decide now would be an opportune time to make a move on HGS." HGSI +4.9% AH. | 2 Comments
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