Bristol-Myers Squibb
Swami Predicts ImClone’s Future
Me: Swami, thanks for taking my call. With the credit markets in turmoil and this election business seeping into daily conversation, you must be mighty busy. Anyway, might you be able to find the time to predict the outcome of the ImClone / BMS / Lilly acquisition? Mind you, I have no financial position in [...]
ImClone To Reveal Mystery Suitor?
According the WSJ, ImClone may reveal the buyer reportedly offering $70/share (~$6.1B) and there is some speculation that the suitor is either Pfizer or Eli Lilly (though they don’t seem to have quite enough cash in the bank).
Investing, ultimately, is about alternatives. Why invest in the stock market if you can get 10% in a [...]
ImClone Throws Down and Announces Additional Suitor
It was only a matter of time before the BMS/ImClone chatter picked up again. Today, ImClone has released a statement, again officially crapping on BMS’s unsolicited, $60/share offer and also chumming the waters with news of a different possible suitor.
“Mr. Icahn also announced he has had several conversations with the Chief Executive Officer of [...]
BMS Ponies Up for Elotuzumab
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Bristol-Myers Squibb and PDL BioPharma announced an agreement for the global development and commercialization of PDL BioPharma’s anti-CS1 antibody, elotuzumab (HuLuc63), currently in Phase I development for multiple myeloma.
Does someone have some cash burning a hole in their knickers? BMS has been on fire in the last six months divesting non-core [...]
Icahn Responds to BMS Offer for ImClone
I love a little Icahn in the morning.
ImClone released a statement this morning indicating that the BMS offer substantially undervalues the company.
On Friday, ImClone closed $5.34 (almost 9%) above the BMS offer of $60/share. It will be interesting to watch this one shake out. I think Old Carl has some fight left in [...]
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 [...]
BMS Picks Up KAI-9803
A little over a month after Daiichi Sankyo (post-merger) ditched their license for KAI-9803, Bristol-Myers Squibb agreed to a partnership agreement with similar terms. Originally, KAI received $20 million upfront from Sankyo, as well as potential milestone payments of up to $300 million for two initial indications and milestone payments on any future delta PKC [...]
BMS Sheds ConvaTec for $4.1 billion
A few hours after I had written this post about the Pfizer/Esperion spin-off signaling a changing of the times in big pharma, I see I this story about Bristol-Myers Squibb divesting ConvaTec to some private equity groups (Nordic Capital VII and Avista Capital Partners) for $4.1 billion dollars. This press release jogged my memory and [...]
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