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Compugen Ltd. surged to the highest level in six years on speculation the use of one of its products in cancer treatment research will boost revenue.
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BioLineRx Ltd. surged in New York trading, widening the premium versus its Tel Aviv shares to a record, on bets the biopharmaceutical company will be acquired following its licensing agreement for a hepatitis C treatment.
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Europe’s largest drugmakers may step up acquisitions of biotechnology companies this year after spending money in 2011 on stock buybacks and higher dividends to keep shareholders happy.
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If you think the economy is giving you heartburn, you may not be alone.
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Merck & Co. will make whatever deals are necessary to ensure the company leads the race for future hepatitis C combination therapies, said Roger Pomerantz, the drugmaker’s worldwide head of licensing and acquisitions.
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Idenix Pharmaceuticals Inc. and Achillion Pharmaceuticals Inc., developers of hepatitis C drugs, rose on speculation they may follow Inhibitex Inc. and Pharmasset Inc. as acquisition targets.
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Bristol-Myers Squibb Co., the drugmaker that will lose patent protection for three of its top four drugs within three years, will follow its $2.5 billion Inhibitex Inc. purchase with more deals as the company’s “string of pearls” acquisition strategy begins to pay off.
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Bristol-Myers Squibb Co. agreed to pay about $2.5 billion in cash to buy Inhibitex Inc., the second maker of hepatitis C drugs to be acquired within two months as companies jockey for position in a developing $20 billion market.
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The promise of an experimental drug for cancer means that Onyx Pharmaceuticals Inc. may reward shareholders with a record windfall by selling itself.
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The acquisition of Pharmasset Inc. at the highest valuation on record for a drug takeover is turning makers of hepatitis C therapies from Inhibitex Inc. to Achillion Pharmaceuticals Inc. into the next targets.
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