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   Biotech / MedicalMunch-a-Biotech Today


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From: nigel bates1/29/2018 4:44:25 AM
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Sanofi rides in as white knight - though I still think it's being sold cheap.

  • PARIS, France and GHENT, Belgium, 29 January 2018 – Sanofi [Euronext: SAN; NYSE: SNY] and Ablynx [Euronext Brussels and Nasdaq: ABLX], a biopharmaceutical company engaged in the discovery and development of Nanobodies®, entered into a definitive agreement under which Sanofi will offer to acquire all of the outstanding ordinary shares, including shares represented by American Depositary Shares (ADSs), warrants and convertible bonds of Ablynx at a price per Ablynx share of €45 in cash, which represents an aggregate equity value of approximately €3.9 billion. The transaction was unanimously approved by both the Sanofi and Ablynx Boards of Directors.




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    To: nigel bates who wrote (3112)1/29/2018 11:07:36 AM
    From: Miljenko Zuanic
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    Why was Ablynx BofD inclined to sell comp so early? Aware of risk involved, or....something more obvious????

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    To: Miljenko Zuanic who wrote (3113)1/29/2018 11:58:25 AM
    From: nigel bates
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    Maybe just that the large shareholders wanted to sell ?

    And it's a better fit than Novo.

    (& don't forget 15% of the stock was sold at $17.50 last October...)

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    To: nigel bates who wrote (3114)1/29/2018 1:29:03 PM
    From: Miljenko Zuanic
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    Yes, but do you think that scientist and mid-level management will prosper under Sanofi umbrella? Yes, BofD have responsibility toward SH (especially large one and control ones), but they also have toward entire employe structure (at least in my book). In addition, they should be PATRIOTS, a little ! Hope GLPG will not sell itself! Sanofi did start construction of the large bio-manufacturing structure in Belgium, so that help, down the line.

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    To: Miljenko Zuanic who wrote (3115)1/29/2018 4:43:40 PM
    From: nigel bates
       of 3158
     
    I would guess quite a number will leave.
    By all accounts, Ablynx seems to have been a great place to work; whether it stays that for long as part of big pharma seems a bit unlikely. Just guessing, though.

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    From: mopgcw1/31/2018 12:17:01 PM
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    SGEN munching CASC...

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    From: Miljenko Zuanic1/31/2018 5:53:16 PM
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    RE: VRTX

    "Stock Repurchase Program"

    <The company today announced that its Board of Directors has authorized a share repurchase program of up to $500 million of common stock through December 31, 2019. The repurchase program is expected to be executed over two years with the primary objective of reducing the impact of dilution from employee equity programs.

    Purchases may be made through the open market or privately negotiated transactions and may be made pursuant to Rule 10b5-1 plans or other means as determined by Vertex's management and in accordance with the requirements of the Securities and Exchange Commission.>

    Am I reading this corrects, they are AWARDING insiders (management, BofD) with $500M bonus, in options and/or free shares ???

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    To: Miljenko Zuanic who wrote (3118)1/31/2018 6:14:25 PM
    From: DewDiligence_on_SI
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    This is not a $500M grant to insiders. (Not sure if your question was facetious.) $500M is the size of the planned buyback to offset dilution from ordinary exercising of stock options.

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    To: DewDiligence_on_SI who wrote (3119)1/31/2018 7:47:31 PM
    From: Miljenko Zuanic
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    <..privately negotiated transactions and may be made pursuant to Rule 10b5-1 plans...>

    You may see it as facetious (in one way it was), but the company is signaling that they will/may be buying shares from insiders, after they convert options to shares according to 10b5-1 plan. But if they want to award SH, distribute $500M to them (or spent on R&D, or distribute to "Ms. Maria ", who is brooming a floor at company, for living) , and cut down on options award as measure for controlling/offset dilution.

    Will they disclose or hide purchase price, from insiders?

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    To: Miljenko Zuanic who wrote (3120)1/31/2018 7:56:25 PM
    From: DewDiligence_on_SI
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    The 10b5-1 plan VRTX is talking about in the PR is for the company's own buybacks on the open market; this 10b5-1 is not directly related to any insider trading.

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