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To: nigel bates who wrote (2687)9/13/2008 9:05:08 AM
From: rkrw   of 3007
 
Seems over the top. But otoh. There were rumors last week when the pfizer/bayer rumors were floating that they were also going to take out onxx. So its not just imclone. Then there was a 2nd rumor, they take out Bayer but would have to divest nexavar to onxx (because of sutent) :)

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To: DewDiligence_on_SI who wrote (2686)9/13/2008 9:07:42 AM
From: rkrw   of 3007
 
When do you think the $70 bidder will be disclosed?

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To: rkrw who wrote (2689)9/13/2008 10:22:04 AM
From: nigel bates   of 3007
 
I wasn't suggesting that BP are all idiots - just that they are far from immune to blunders which make them look that way from time to time.

(Not that you couldn't say the same about me.)

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To: nigel bates who wrote (2691)9/13/2008 11:00:07 AM
From: rkrw   of 3007
 
You're being too kind to BP.

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From: scaram(o)uche9/13/2008 12:32:30 PM
   of 3007
 
Talecris (remnant of Bayer/Cutter biologics business), recently pre-munched by CSL......

FOR IMMEDIATE RELEASE
September 12, 2008
Media Inquiries:
Karen Riley, 301-827-6242
Peper Long, 301-827-6242
Consumer Inquiries:
888-INFO-FDA



FDA Approves Treatment for Rare Neurologic Disease
The U.S. Food and Drug Administration today announced that it has approved an immune globulin product called Gamunex for the treatment of chronic inflammatory demyelinating polyneuropathy (CIDP), a rare autoimmune disorder characterized by progressive weakness and impaired sensory function in the legs and arms.

The FDA designated Gamunex as an orphan drug to treat CIDP. The orphan drug designation provides manufacturers with financial incentives to develop treatments for rare diseases, those affecting fewer than 200,000 people in the United States.

"This approval is part of the FDA's effort to address unmet medical needs in patients who are suffering from rare and serious diseases," said Jesse L. Goodman, M.D., M.P.H., director of the FDA's Center for Biologics Evaluation and Research.

CIDP, which affects about 25,000 people in the United States, is caused by an immune system attack on the body's peripheral nervous system. The effects of CIDP—progressive muscle weakness, loss of deep tendon reflexes, tingling, and numbness—are caused by damage to the strong, fatty material that covers and protects the nerve fibers, called the myelin sheath.

Immune globulin (antibody) products are obtained from pooled human blood plasma, which contains antibodies that fight infections. These products are often given to patients with compromised immune systems, who are at increased risk for certain infectious disease. They are also used to adjust the immune response in certain autoimmune diseases.

Researchers think it is likely that Gamunex helps improve muscle function in patients with CIDP by modulating the immune system's response to the inflammation that damages the myelin sheaths, but the exact mechanism is not known.

The FDA based its approval of Gamunex on clinical trials that showed Gamunex was effective at improving certain motor functions for up to 48 weeks after the initial treatment. Researchers used the Inflammatory Neuropathy Cause and Treatment scale (INCAT) to measure a patient's ability to perform tasks such as walking and motor tasks for the hands.

The trials showed improved CIDP patient INCAT scores for muscle function after receiving Gamunex every three weeks for a 24-week period. Twenty-eight of 59 patients treated with Gamunex had improved INCAT scores compared to 13 of 58 patients treated with placebo.

In addition, patients with improved INCAT scores participated in a follow-up trial for an additional 24 weeks. Eighty-six percent of the patients who continued to receive Gamunex maintained their improved INCAT scores compared to 61 percent of the patients who received placebo during the follow-up trial.

Adverse reactions were similar to those of other immune globulin products and included headache, fever, increased blood pressure, rash, joint pain, chills, back pain, nausea, and lightheadedness.

Gamunex is manufactured by Talecris Biotherapeutics Inc. of Research Triangle Park, N.C.

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To: rkrw who wrote (2690)9/13/2008 1:13:08 PM
From: DewDiligence_on_SI   of 3007
 
When do you think the $70 bidder will be disclosed?

At the end of the two-week DD period, if the conditional offer is converted to a firm offer, the bidder will presumably disclose the bid because it will be material to the bidder’s own shareholders.

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From: Doc Bones9/17/2008 5:57:42 AM
   of 3007
 
Bristol-Myers Could Drop ImClone Offer Article

SEPTEMBER 17, 2008

Microsoft's "successful" walk away from its $30+ offer for Yahoo, and Yahoo's subsequent descent under $20, adds some punch to this threat, I would think.

Doc



Bristol-Myers Squibb Co. might consider walking away from its $60-a-share offer for U.S. biotech company ImClone Systems Inc., Chief Financial Officer Jean-Marc Huet told analysts and investors Tuesday.

"There are situations in which we are willing to walk away," Mr. Huet said at the Merrill Lynch Global Pharmaceutical conference in London.

While acknowledging that ImClone would be a "very nice bolt-on acquisition," Mr. Huet sounded a note of caution on Bristol-Myers Squibb's intentions should a bidding war erupt for the biotech company. "You should never fall in love with an asset," he said.

Bristol-Myers already owns 17% of ImClone. Its $60-a-share offer values the remaining 83% at $4.5 billion.

ImClone has rejected Bristol-Myers's bid, calling it inadequate, and earlier this month said it had received a higher preliminary offer from another large pharmaceutical company, which it didn't identify. Bristol-Myers said it wouldn't raise its offer price.

Bristol-Myers Squibb markets ImClone's cancer treatment Erbitux in the U.S., while Germany's Merck KGaA has international rights.

Shares of ImClone fell in Tuesday trading, shedding about $3.33, or 5%, to $60.39 -- much closer to the Bristol-Myers offer price than it has been lately

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To: Doc Bones who wrote (2695)9/17/2008 6:11:25 AM
From: nigel bates   of 3007
 
Bayer buys German biotech Direvo for 210 mln eur
FRANKFURT, Sept 16 (Reuters) - Bayer (has agreed to acquire German drug developer Direvo Biotech AG for 210 million euros ($294.3 million) to strengthen its research into biological drugs.

The deal is expected to close by the end of the month, Bayer said in a statement on Tuesday.
Bayer, which transformed its healthcare arm by taking over rival Schering for 16 billion euros in 2006, said recently it planned to make smaller acquisitions this year to complement its drugs business. Direvo develops proteins for drug use, such as antibodies, using automated processes.
'We are committed to further strengthen our biologicals portfolio, and Direvo's leadership in protein engineering provides promising opportunities for further business growth,' said Bayer HealthCare head Arthur Higgins.

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To: Doc Bones who wrote (2695)9/17/2008 6:14:37 AM
From: DewDiligence_on_SI   of 3007
 
Shares of ImClone fell in Tuesday trading, shedding about $3.33, or 5%, to $60.39 -- much closer to the Bristol-Myers offer price than it has been lately

This statement is at best misleading and at worst ignorant.

The 5% drop in IMCL’s share price yesterday had nothing to do with the cited remarks from BMY’s CFO and had everything to do with the failure of the CRYSTAL study to show a survival benefit for Erbitux in first-line mCRC:

investorshub.advfn.com 

Regards, Dew

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To: DewDiligence_on_SI who wrote (2697)9/17/2008 2:49:55 PM
From: Ian@SI   of 3007
 
September 17, 2008, 9:18 am
Small Swedish Pharma Could Be Buyout Target for Pfizer
Posted by Jacob Goldstein

Swedish flagKaro Bio, a Swedish shop with a promising experimental cholesterol-lowering drug, could soon have Big Pharma knocking on its door.

The company’s stock is up some 41% since August, Bloomberg reports. The big bounce came after the company released the results of a study that showed that a combination of Karo’s eprotirome and Pfizer’s Lipitor lowered cholesterol more than Lipitor alone.

Pfizer is set to lose patent protection on Lipitor in 2011, and the good-cholesterol booster that was supposed to replace it failed in a late-stage clinical trial. So the company could stand to make an acquisition that could allow it to keep its cholesterol franchise in tact.

But nobody’s commenting on any possible deals, and the drug is only in mid-stage testing, so this is still pretty speculative stuff. Even if a deal does go through, it will be small potatoes compared to some of the billion-dollar acquisitions we’ve been seeing.

The company’s market cap is well under $200 million. Despite the recent bounce, Karo’s still trading far below where it was a year ago, before it ended a collaboration with Merck to test another experimental medicine, Bloomberg says.

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