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Strategies & Market Trends : Speculating in Takeover Targets -- Ignore unavailable to you. Want to Upgrade?

To: richardred who wrote (1964)3/19/2008 12:55:43 PM
From: richardred  Respond to of 6274
CollaGenex Buyout Moves Toward Close
Wednesday March 19, 10:30 am ET
Galderma Moves Toward Closing CollaGenex Buyout As Antitrust Waiting Period Expires

NEWTOWN, Pa. (AP) -- Galderma Pharma SA's proposed acquisition of CollaGenex Pharmaceuticals Inc. moved a step closer to completion Wednesday as the waiting period required under U.S. antitrust law expired.

The cash tender offer of $16.60 per share began on March 7 and will expire on April 4.

In a tender offer, the purchaser makes a public offer to acquire shares in a corporation at a set price and during a set offer period. Some tenders offers are conditioned upon shareholders agreeing to sell a certain percentage of outstanding shares to the purchaser.

Both CollaGenex and Galderma focus on developing dermatological products. Galderma is a privately-held joint venture between Nestle and L'Oreal.

CollaGenex shares rose 6 cents to $16.54 in morning trading.

To: richardred who wrote (1964)4/16/2008 1:33:19 AM
From: richardred  Read Replies (1) | Respond to of 6274
Wow! Lots of big time insider buys at big 0 of coarse.

Officer 99 Indirect Statement of Ownership N/A
Officer 22,761 Direct Statement of Ownership N/A
Officer 12,487 Direct Acquisition (Non Open Market) at $0 per share. N/A
Officer 12,487 Direct Acquisition (Non Open Market) at $0 per share. N/A
Officer 22,702 Direct Statement of Ownership N/A
Officer 34,965 Direct Acquisition (Non Open Market) at $0 per share. N/A
Officer 40,459 Direct Acquisition (Non Open Market) at $0 per share. N/A
Officer 112,387 Direct Acquisition (Non Open Market) at $0 per share.

To: richardred who wrote (1964)12/2/2008 11:49:05 AM
From: richardred  Respond to of 6274
Medicis shares jump on unexpected patent deal
Tuesday December 2, 11:29 am ET
Medicis Pharmaceutical shares gain ground on patent deal for the key acne drug Solodyn

NEW YORK (AP) -- Shares of Medicis Pharmaceutical Corp. jumped Tuesday after the company settled a patent dispute over its acne drug Solodyn, removing the immediate threat of generic competition to a key revenue driver.

The stock jumped $2.39, or 21.5 percent, to $13.51 in midday trading. Shares have traded between $9.66 and $27.80 over the last 52 weeks.

In January, Impax Laboratories asked the Food and Drug Administration to approve its version of the acne drug, sparking a patent challenge and dispute with Medicis. The deal means Impax has a right to market a generic version of the drug no later than November 2011 and will pay Medicis sales royalties.

Also, the companies will jointly develop five dermatology products, including an advanced form of Solodyn, with Impax receiving $40 million on signing and up to $23 million in future payments.

Roth Capital Research analyst Scott R. Henry said the deal removes an obvious threat, though there could still be some unknown potential challengers. Solodyn makes up the bulk of Medicis' revenue.

"It remains unknown whether other generics are pending approval," he said in a note to investors.

Henry added that many believe Impax was the first to file for a generic version of the drug. If true, that would leave no other current imminent threats. Though he reaffirmed a "Buy" rating and raised the price target to $22 from $20, the payment to Impax may "raise eyebrows" from regulatory agencies, he added, though it appears structured as part of the broader partnership.

The practice of settling patent disputes with payments has gained the attention of both U.S. and European regulators in recent years with the key question being whether such payments by patent-holders are anticompetitive.

Meanwhile, Leerink Swann & Co. analyst Gary Nachman reaffirmed a "Market Perform" rating on the stock, saying the deal reduces but does not eliminate the threat of generic competition before November 2011. He also believes there is a chance regulators will review the payment deal.

"But that could take a while to materialize," he said.

Elsewhere, Cowen and Co. analyst Ken Cacciatore said the deal could allow sufficient time for the company to launch a new formulation of Solodyn now under review at the Food and Drug Administration. If approved, that new formulation could preserve revenue from the drug beyond 2011.

"We remain neutral, but acknowledge that Medicis has taken a very positive step forward in providing much needed visibility to its key overhang," Cacciatore said.

To: richardred who wrote (1964)7/12/2010 1:06:46 PM
From: richardred  Read Replies (6) | Respond to of 6274
Added to MRX today. Big cash position and synergies look tempting to a company like J & J.