| From: nigel bates | 10/18/2018 5:10:18 AM | | | | | | Endocyte / Novartis:
WEST LAFAYETTE, Ind., Oct. 18, 2018 (GLOBE NEWSWIRE) -- Endocyte, Inc. (Nasdaq:ECYT), a biopharmaceutical company developing targeted therapeutics for cancer treatment, today announced that it has entered into an agreement and plan of merger with Novartis AG (“Novartis”) pursuant to which Novartis will acquire Endocyte for $24 per share, or a total equity value of approximately $2.1 billion, in cash. This offer represents a premium of 54% percent to Endocyte’s closing price of $15.56 on October 17, 2018. The transaction was unanimously approved by the board of directors of Endocyte.
“Since acquiring exclusive worldwide rights to develop and commercialize PSMA-617 agents in 2017, the entire Endocyte team, along with our partners, have worked tirelessly to build a leading radioligand (RLT) portfolio and create value for patients and shareholders alike. We are thrilled that Novartis recognizes the potential for 177Lu-PSMA-617 to change the treatment landscape for men with metastatic castration-resistant prostate cancer (mCRPC), as well as the broader role that RLTs may potentially play in the treatment of cancer,” said Mike Sherman, president and CEO of Endocyte. “The global reach and expertise of Novartis in developing and commercializing RLT therapies will be critical in efforts for patients to benefit from these therapies as quickly as possible.” |
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| From: nigel bates | 10/29/2018 8:31:02 AM | | | | | | STOCKHOLM (Reuters) - Private equity firm EQT on Monday made a recommended 5.97 billion Swedish crown (509.52 million pounds)cash bid to buy Swedish speciality pharma group Karo Pharma (KARO.ST).
The offer, made by the EQT VIII fund and unanimously recommended by Karo Pharma's board, represents a 25.3 percent premium to Karo's closing price on Friday.
"We are delighted that the Board of Directors has decided to recommend EQT VIII's offer," EQT partner Per Franzen said in a statement.
"We are impressed by Karo Pharma's development and successful strategic transformation from an early stage research and development company into a leading speciality pharmaceutical company with a strong product portfolio and European reach."
EQT said that Karo Pharma Chairman Anders Lonner and board member Per-Anders Johansson, together representing in total 13.6 percent of shares and votes in the company, had declared they intended to accept the bid.
The acceptance period is expected to run between Nov. 13 and Dec. 10 and requires EQT to take ownership of 90 percent of the shares. It said it does not currently own or control any shares in Karo Pharma. |
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| From: nigel bates | 11/20/2018 5:43:44 AM | | | | | | Reuters) - U.S. medical device maker Boston Scientific Corp (BSX.N) said it had agreed a 3.3 billion pound cash deal to buy Britain's BTG Plc (BTG.L) to bolster its capabilities in interventional medicine.
The offer of 840 pence per share represents a premium of 36.6 percent to BTG's close of 615 pence on Monday.
Shares of BTG soared more than 35 percent to 832 pence, their highest level since Jan. 2015, on Tuesday. Up to Monday's close, the stock had slipped 19.3 percent this year.
Boston Scientific said BTG's interventional portfolio - using devices to deliver drugs to affected organs - would augment its capabilities in important areas of unmet need such as cancer and pulmonary embolism.
BTG, which has long produced drugs to treat overdoses and rattlesnake bites, has focussed on interventional medicine in recent years, for example producing beads that target tumours.
Boston Scientific's chairman and CEO Michael F. Mahoney said the addition of these therapies to our portfolio would ultimately advance patient care in ways that could not be realised by either company alone, while also providing a strong return for investors.
BTG said it considered the terms of the offer to be fair and reasonable and it planned to recommend the deal to shareholders. |
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| From: tuck | 12/3/2018 9:32:32 AM | | | | | | GSK takes out Tesaro (TSRO). I don't get it. They seem to me like something of an also ran in the PARP space. Whatever, sector could use the boost.
Cheers, Tuck |
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| To: Miljenko Zuanic who wrote (3133) | 1/3/2019 6:48:06 PM | | From: Biotech Jim | | | | When the deal is consummated, I will look at the details of the contingent value rights. These CVRs could have several pipeline drivers. Also, assets to be shed due to "efficiencies" may be of interest to those in the bidness. Yessirreee, CELG CVRs.
FWIW, as I listen to REM and "Everybody Hurts", reflecting at least for me the carnage that I had the certainty that they would not go down this far. Hubris.
Everybody hurts, yes even me.... |
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| To: Biotech Jim who wrote (3134) | 1/3/2019 7:23:11 PM | | From: rkrw | | | | The CVR is based on final approval of all three drugs, with deadlines:
Ozanimod by 12/31/20
JCAR017 by 12/31/20
BB2121 by 3/31/21
The plus to them is it will be tradable. So maybe the CVR will sell for a few bucks once trading. |
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| To: Biotech Jim who wrote (3134) | 1/3/2019 10:06:32 PM | | From: scaram(o)uche | | | | >> Hubris <<
Not the way I saw it. Just the usual, many years, helping people find good issues. Win some, lose some.
Great song for the moment, thanks for the link and thought. |
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