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News Breaks
June 20, 2014
09:46 EDTACHN, MRK, IDIXIdenix received bid above $18.00 per share prior to deal with Merck
In a regulatory filing, Merck (MRK) disclosed that, on June 3, the company submitted a revised proposal to acquire all of the outstanding shares of Idenix (IDIX) at a price per share of $18.00 in cash. On June 6, Centerview contacted Credit Suisse to inform Merck that its June 3rd proposal did not represent the highest price per share of any proposal received. Also on June 6, immediately following a meeting of the Idenix Board, representatives of Centerview contacted representatives of Merck to request that the company submit a best and final proposal by June 8. On June 8, Merck submitted its best and final proposal to acquire all of the outstanding shares at a price of $24.50 per share in cash, which was subsequently accepted and announced on June 9. Shares of Idenix peer Achillion Pharmaceuticals (ACHN) are up 4.7% to $8.46 in early trading following the disclosure that a bidder other than Merck had previously offered to buy Idenix for greater than $18.00 per share.
News For ACHN;IDIX;MRK From The Last 14 Days
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June 29, 2015
08:39 EDTMRKMerck says Phase 3 Emend data shows it provides 'greater protection' from nausea
Merck announced results from a Phase 3 study investigating the safety and efficacy of single-dose Emend for Injection, Merck’s substance P/neurokinin receptor antagonist, in combination with other anti-vomiting medicines, for the prevention of chemotherapy-induced nausea and vomiting, or CINV, in adult cancer patients receiving moderately emetogenic chemotherapy, or MEC. In the study, the first to evaluate an intravenous NK-1 receptor antagonist for the prevention of CINV associated with MEC, the single-dose Emend for Injection regimen provided greater protection from nausea and vomiting following administration of chemotherapy versus an active control of placebo with other anti-vomiting medicines. These data were presented in an oral session at the Multinational Association of Supportive Care in Cancer/International Society of Oral Oncology Annual Meeting on “Supportive Care in Cancer” in Copenhagen.
June 24, 2015
09:07 EDTMRKCAR-T cancer drug researchers seen as M&A targets, Bloomberg says
Juno Therapeutics (JUNO), Kite Pharma (KITE) and Bluebird Bio (BLUE) are trading well above their IPO levels as takeovers predictions have spurred interest and share increases for the developers of CAR-T gene therapies, said Bloomberg's "Real M&A" column, quoting Dimo Dimov, a professor at the University of Bath’s School of Management, as having said that companies such as Pfizer (PFE), Merck (MRK), Roche (RHHBY) and AstraZeneca (AZN) are "closely watching" the firms. Cellectis (CLLS), which is working with Pfizer on its own approach to CAR-T therapy, has said it wants to bring its therapy to market and doesn’t anticipate a sale, the report noted. Reference Link
June 23, 2015
07:36 EDTACHNJMP Securities to hold a conference
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June 21, 2015
13:14 EDTMRKMerck shares could return 25%, Barron's says
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