Clinical Stage Biotechs For Sale?
This article was originally published in The Pink Sheet Daily
The oversized price tag attached to the recent acquisition of Pharmasset by Gilead has caused many to wonder how the take-out fits into historical patterns – or if it’s as big an outlier as it seems.
You may also be interested in...
Almost two weeks later, people are still talking about ramifications from Gilead’s $11 billion buyout of Pharmasset, but companies such as Roche, Elan and Curis have been active deal makers in recent days.
FDA’s approval of Bristol-Myers Squibb’s metastatic melanoma immunotherapy was granted only after looking outside the BLA for assurance that the biologic’s effect was robust and validated.
The planned purchase price of $11 billion, or $137 a share, an 89% premium over Pharmasset’s closing price on Nov. 18, is by far the highest ever paid for a clinical-stage biotech.