Deals Of The Week: Spectrum/Allos, Amgen/AstraZeneca, Forest/Janssen
Executive Summary
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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Company says new asthma drug partnered with AstraZeneca will offer a new therapy option for severe patients with low eosinophil counts. The firms will provide launch plans in January.
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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 Pounces On Market-Weakened Illumina
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.