Celgene: A Promising Stock
With an attractive balance sheet, healthy revenue growth and a solid return on equity, biotech company Celgene looks like a promising stock buy.
Genzyme Corporation
Still No Deal Between Sanofi-Aventis and Genzyme
What is preventing the French pharmaceutical group and U.S. biotech from reaching a merger agreement?
The Problem with Fast-Tracking Drug Approvals: Pharmas Fail to Follow Up
To get potentially lifesaving drugs to patients faster, the U.S. Food and Drug Administration is allowed to approve some drugs -- those that address unmet medical needs -- based on fewer trials than usual. But it turns out that many of the pharmaceutical companies fail to conduct follow-up trials to prove the drugs work.
Sanofi-Aventis, Genzyme on the Brink of a Merger
It seems that months of merger talks between French pharma Sanofi-Aventis and U.S. biotech Genzyme have entered the home stretch. This week, Sanofi is expected to offer $74 a share for Genzyme, with an option included potentially worth $5 to $6 a share.
Just How Much Is Sanofi Offering for Genzyme?
Just after Genzyme announced that it signed a confidentiality agreement with Sanofi Aventis to allow the French drugmaker to examine its books, leaks about the potential deal started pouring out. The numbers and details vary, so this long battle may not be over yet.
Another Cancer-Drug Failure Highlights Difficulties Facing Pharmas
Sanofi-Aventis announced its cancer drug candidate iniparib failed in a late-stage clinical trial. Other pharmaceutical companies have also experienced recent setbacks as they scramble to bolster their pipelines ahead of the patent cliff, when they will be forced to compete with cheaper generics.
What a Wild Year It Was
for Health Care
Led by the health insurance reform law, a flurry of drug and food recalls, key medical breakthroughs and plenty of layoffs and lawsuits, 2010 proved to be an exciting -- if not always positive -- year. Here's our rundown of the biggest health care stories.
Genzyme Talks Up Possible Sales of Its New MS Drug
The U.S. biotech is holding an analyst and investor meeting focused on the commercial potential of its multiple sclerosis drug Campath. The goal: to convince Paris-based Sanofi-Aventis to raise its hostile takeover offer in a battle that has now gone on for five months.
Sanofi-Aventis Extends Its Tender Offer for Genzyme
Paris-based pharma Sanofi-Aventis has pushed back its offer deadline for Massachusetts-based biotech Genzyme by six weeks. All other terms, including the $69 per share bid, remain unchanged. So far, very few shareholders have responded.
Top Stock Picks of Six Billionaire Investors
By the time the world's smartest investors tell the SEC what stocks they hold, most of the gains they were after are already priced in. But a few of the companies Warren Buffett, George Soros, and their billionaire buddies have bought into still have a lot further to rise. Which ones? Read on ...
Earnings, Deals, Hiring: A Busy Day for Big Pharma
Big Pharma didn't rest Thursday, with Celgene, Sanofi-Aventis and AstraZeneca among the big names reporting earnings. A deal between Stryker and Boston Scientific and Sanofi and BMP Sunstone also made the headlines, as did some hiring from Teva. Bristol-Myers Squibb received the anticipated new approval for one of its cancer drugs. But it was Celgene that led drug stocks higher.
Genzyme Rejects Sanofi-Aventis Takeover Bid
Genzyme, which makes drugs to treat leukemia and multiple sclerosis, has rejected a hostile takeover bid from French drugmaker Sanofi-Aventis. The offer "dramatically undervalues" Genzyme, the company said Friday, putting its value about 30% higher.
Sanofi Says MS Drug Reduces Relapses
French pharmaceutical giant Sanofi-Aventis says its multiple sclerosis drug teriflunomide significantly cut relapses in patients who took the once-daily oral treatment.
Sanofi Denies Offering $69-$80 Price Range to Genzyme
There's a new plot twist in the takeover battle between French pharmaceutical giant Sanofi-Aventis and U.S. drugmaker Genzyme. A regulatory filing made by Genzyme on Thursday claims Sanofi may be willing to go much higher than its current $69 bid -- a claim the French company disputes.
Sanofi-Aventis Launches Hostile Bid for Genzyme
After months of courting U.S. drugmaker Genzyme, French pharmaceutical company Sanofi-Aventis launched a hostile bid valued at approximately $18.5 billion, or $69 a share, for all outstanding shares of Genzyme common stock.
Sanofi-Aventis Inks 10-Year R&D Deal with Covance
French pharmaceutical company Sanofi-Aventis announced a 10-year agreement with Covance on Thursday under which the Princeton, N.J.-based contract research firm will provide it with drug development services. Sanofi-Aventis will pay Covance between $1.2 billion to $2.2 billion.
Another Blow for Sanofi-Aventis as a Promising Drug Fails to Deliver
Sanofi-Aventis, which has been unsuccessful recently in its courtship of U.S. giant biotech Genzyme, announced another setback today. A late-stage trial of NV1FGF did not meet its primary goal of preventing a major amputation or death from any cause over 12 months.
Sanofi Is in No Rush to Reach Deal With Genzyme
Sanofi-Aventis CEO Chris Viehbacher said Wednesday that he believes his French pharmaceutical company will eventually buy U.S. biotech company Genzyme at a reasonable price. However, he expects it will take some time to agree on a deal, and he won't rush into anything.
Bristol-Myers Squibb to Buy ZymoGenetics for $885 Million
Drugmaker Bristol-Myers Squibb plans to buy ZymoGenetics, its partner in developing a hepatitis C treatment, for $885 million. The move is part of a trend of pharmaceutical acquisitions as several big patents face expiration soon.
Summer's Sudden Boom in Mergers and Acquisitions
After a couple of fairly sleepy years, mergers and acquisition activity has bounced back dramatically, with potential long-term consequences for the stock market. It's a rare ray of hope at a time when other economic indicators are pointing straight toward the floor.
Genzyme Rejects $18.5B Bid from Sanofi-Aventis
One of the most interesting merger and acquisition sagas of the past month is no doubt Sanofi-Aventis' courtship of rare-disease biotech firm Genzyme. As Genzyme rejects Sanofi's $18.5 billion offer, could a hostile bid be next?
Sanofi-Avenits Won't Boost Genzyme Bid
Pharmaceutical giant Sanofi-Aventis is unwilling to pay more than $70 a share in its bid to buy biotech firm Genzyme, media outlets reported Wednesday. If a deal can't be reached, the French drugmaker may consider alternative takeover targets.
Deutsche Bank Initiates Coverage of Biotech Stocks
Several biotech stocks were on the move Monday after Deutsche Bank started rating them. The bank's analyst, Robyn Karnauskas, took a generally wary view on the biotech sector, putting buy ratings only on Gilead and Dendreon.
Sanofi-Aventis Opens Buyout Talks with Genzyme
French pharmaceutical giant Sanofi-Aventis sent a letter to major U.S. biotech firm Genzyme proposing a friendly takeover valued at $69 a share, or $18.4 billion. But that's a lot less than $80 a share, or $21.3 billion, that sources say Genzyme is looking for.
Sanofi-Aventis Earnings Beat Expectations
On Thursday, Sanofi-Aventis reported its second-quarter net profit rose 7.6% to 2.48 billion euros, beating expectations. But the French drugmaker warned that earnings may fall for the full year, and it remained silent about its rumored plan to make a friendly bid for Genzyme.
Genzyme Stock Up Again on Takeover Reports
Is Genzyme for sale? There's still no official confirmation, but Genzyme shares continued to rise on speculation the pharma firm may be a takeover target. Sanofi is a likely buyer, but other suitors are said to be waiting in the wings.