astrazeneca
BMS Offers to Buy The Rest of ImClone
In a regulatory filing this morning, Bristol-Myers Squibb announced it has offered to buy the 83% of ImClone it doesn’t already own for an all cash, $60/share or $4.5B. This offer represented a 30% premium over yesterday’s close but already in premarket trading, ImClone has hit $65/share.
I’ve been trying to figure BMS out for [...]
Bristol-Myers Squibb To Be Acquired By… [Insert Name Here]??
In a previous post, I speculated on reasons for shedding of non-core pharmaceutical assets by BMS. Don’t read it. I was grasping at straws and missed the real connection, I think BMS is divesting non-biopharm assets because it will soon be acquired. The company’s stock is down 11% from this January [...]
Does the Esperion Spin-Off Signal the Start of New R&D Era?
What a difference time makes. Pfizer acquired Esperion roughly 4 years ago at a 53% premium and a price tag of $1.3 billion dollars. Yesterday, Esperion was spun off from Pfizer and raised ~$23m from VCs to continue operation, with no other financial terms disclosed. Esperion had been operating as a separate research division inside [...]
Recent Comments