In Obtaining Strong Price From BMS, Medarex Also Ameliorates Significant Pipeline Pressure
This article was originally published in The Pink Sheet Daily
Executive Summary
Bristol's acquisition offer of $16 per share is certainly generous, but Medarex has a lengthy and promising pipeline to offer and one which would have needed deep pockets down the road.
You may also be interested in...
With No Competition, BMS Looks to Complete $885 Mil. Buy of ZymoGenetics
Bristol-Myers Squibb launched its $885-million tender offer for Seattle biotech ZymoGenetics Sept. 10, with two major shareholders representing more than a third of the biotech's shares already on board. The acquisition would give Bristol full rights to a mid-stage interferon treatment for hepatitis C that it currently shares with ZymoGenetics.
With No Competition, BMS Looks to Complete $885 Mil. Buy of ZymoGenetics
Bristol-Myers Squibb launched its $885-million tender offer for Seattle biotech ZymoGenetics Sept. 10, with two major shareholders representing more than a third of the biotech's shares already on board. The acquisition would give Bristol full rights to a mid-stage interferon treatment for hepatitis C that it currently shares with ZymoGenetics.
From HCV Partner To Acquirer, BMS Makes $885 M Offer for ZymoGenetics
Ever since its pure-play biopharma strategy went into effect, Bristol-Myers Squibb has preferred buying biotechs it knows well. Hepatitis C development partner ZymoGenetics is no exception.