Deals Of The Week: Tire-Kicking Season Continues Full-Swing
As Roche’s reported interest in buying rare-disease specialist Alexion faded, new suitors popped up for oncology specialist Onyx. Plus news on deals between Spectrum and Talon, Pfizer and Sequella, Medtronic and Amgen, and a new direction for Rexahn.
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The Rockville, Md.-based biotech hopes to bring more value to shareholders through a slew of polymer-conjugated cancer drugs that it will add to its pipeline while it continues moving its three lead cancer compounds forward.
Spectrum gains an approved drug with the deal and aims for label expansion. Talon’s high-profile investors are counting on an increase in Spectrum share price and post-acquisition milestones to break even.
Oncology-focused pharmas and multiple myeloma players, as well as would-be MM competitors, top Wall Street’s list of possible Onyx buyers. A successful deal could aid the longstanding biotech rally that has retrenched in recent weeks.