Deals Of The Week: Spectrum/Allos, Amgen/AstraZeneca, Forest/Janssen
Merger and acquisition talk was flying during the week of April 2, while some smaller deals actually got signed on the dotted line.
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The activist investor, previously involved in buyouts at ImClone, Biogen Idec and Elan, as well as a proxy fight at Genzyme, scolds Amylin’s board for lack of transparency on purported Bristol offer and asserts the biotech is not positioned to maximize the market potential of Bydureon.
Roche’s $5.7 billion hostile takeover offer for Illumina is opportunistic as well as strategic. It is a validation of Illumina’s long-term growth potential but also takes advantage of a depressed stock price due to the global economic slowdown and cutbacks in government funding that have hurt Illumina and other providers of gene sequencing instrumentation.