Goldman Sachs has been hired by Shire as the London-listed drug maker confronts a takeover offer, as explained in the Financial Times morning briefing. Shire turned down a $46 billion bid from Chicago-based AbbVie last week. According to a report from the New-York Times, people briefed on the matter said AbbVie was likely to come…
A source familiar with the matter said on Saturday, Medical-device maker Medtronic Inc and rival Covidien, are in advanced talks to combine in a deal valued at $45 billion to $50 billion. The person said, asking not to be named because the matter is not public, the deal, which would allow Medtronic to be domiciled…
Peregrine Pharmaceuticals (NASDAQ:PPHM) is up nearly 20% and reached a 19-month high after the biopharmaceutical company said Wednesday that it will present data from three preclinical studies highlighting the immuno-oncology and anti-viral potential of phosphatidylserine (PS)-targeting antibodies. Results will be presented at two upcoming Keystone Symposia to be held March 9-13. Shares of Peregrine (NASDAQ:PPHM) are…
The Medicines Co (MDCO) announced that the U.S. District Court for the Northern District of Illinois has ruled in its favor in a patent infringement lawsuit against Mylan, Inc (MYL). Mylan was looking to get its generic version of The Medicines Co.’s Angiomax (European trade name: Angiox) approved in the U.S. The Medicines Co. stated…
Despite posting better-than-expected earnings, Biogen Idec’s (BIIB) shares fell 5.4% immediately after the release of third quarter results. Although shares recovered slightly in the subsequent trading session, the overall decline is approximately 3.3% since the announcement of third quarter results. The decline in share price reflects concerns regarding the growth prospects of Biogen’s oral multiple…
Biogen Idec (BIIB) reported third quarter 2014 earnings per share of $3.79 (including the impact of stock-based compensation expense), way above the Consensus Estimate of $3.22 and the year-ago earnings of $2.34 per share. Third quarter 2014 revenues increased 37% to $2.5 billion, topping the Consensus Estimate of $2.4 billion. Including one-time items, third quarter…
