Underscoring just how much big pharma will depend on biotech acquisitions for future revenue, an analysis published by Evaluate Pharma today suggests half of the top 100 drugs worldwide by 2014 – and all of the top six — will be biotechs.
Three in the top six – the anticancer drugs Avastin, Rituxan and Herceptin, — are all made by Roche, which recently moved to acquire even more biotech drugs with its plans to acquire Genentech. Read More
According to Reuters, Obama demanded that the G-20 find solutions to the global financial crisis.
Reuters reports that a bankruptcy for GM (GM) and Chrysler could be a long, drawn-out process.
Reuters writes that activists want to push out the AIG (AIG) compensation chief.
Reuters reports that the IMF sees the global economy shrinking 1% this year.
Reuters reports that Asia banks see opportunities as Western rivals retreat.
Reuters reports the RIM (RIM) has opened a software store for the Blackberry.
Reuters reports that one potential bankruptcy plan for GM would split the company into parts.
Reuters reports that H-P (HPQ) is looking at using the Google (GOOG) operating system for small PCs. Read More
According to Reuters, Obama may be stretched to thin.
Reuters reports that AIG (AIG) executives in Europe are resisting returning bonuses.
Reuters reports that Obama will begin to tighten the screws on Wall St.
Reuters reports that the backlash against Wall St. could spread to the bank bailout plan.
Reuters reports that Twitter will seek more revenue from businesses. Read More
If the rumor mill has any truth to it, then Allergan Inc. (NYSE: GSK) may by the next biotech takeover target. There is roughly $150 billion in new equity investor capital that can be put to work in this space now that Genentech Inc. (NYSE: DNA) is being bought by Roche and that Pfizer Inc. (NYS: PFE) is buying Wyeth (NYSE: WYE) and that Merck & Co. (NYSE: MRK) is buying Schering-Plough (NYSE: intra-day trading trends for day traders and options volume at Volume Spike Investor. And then there is the deeper down assumed valuation assessments using forward P/E’s and other balance sheet data at Biohealth Investor.
Allergan has now just crossed over the 10 million share mark and shares are up 11.7% at $48.23. In today’s world of the market whip-around and the world of M&A, we won’t be shocked if Allergan denies the rumors saying they would rather be an acquirer. Nor would we be shocked if the company halts or just says “No Comment!” in response to this.
Jon C. Ogg
March 24, 2009
The hope for a higher Genentech Inc. (NYSE: DNA) buyout price is getting smaller and smaller. After the companies agreed to a $95.00 per share merger, this was already assumed as the nearly certain outcome by most. The company’s objections and fight for more cash have both been resolved and now it appears that the cases for holdout shareholders wanting more are systematically out of the way.
Read More
A large part of the money that was made by banks and investment banks from 2004 through most of 2007 was made from mergers and acquisitions. When the credit markets fell apart, the financing for these deals disappeared. Then the economy got so bad that buying companies became secondary to staying in business through the downturn Read More
Before Roche decided to try to buy the 44% of biotech company Genentech (DNA) that it did not already own the smaller firm traded at $75. Roche offered just over $86 a share. Genentech said “no.”
After months of bargaining, Genentech got a price of $95, a 26% premium over where it traded before the first offer was made. What is more extraordinary is that, while the bickering over price went on, the DJIA dropped 40%. A big premium became, by comparison to the markets, a huge one. Read More
According to Reuters, Roche agreed to buy Genentech (DNA) for $46.8 billion.
Reuters reports that the world economy is shrinking as the G20 meeting approaches.
Reuters reports that US foreclosure filings were up last month.
Reuters writes that Ford’s (F) deal with the UAW cut hourly wages to about $55.
Reuters reports that Twitter is not seeking a merger. Read More
According to the head of the FDIC, a “bad bank” system could jumpstart the US economy.
Reuters reports that some economists believe that the US economy will start to rebound in the second half of the year.
Reuters says that the Dow Chemical (DOW) merger with Rohm and Haas (ROH) will now go through.
Reuters reports that Eli Broad who invested in AIG (AIG) has given up hope that the company will recover.
Reuters reports that the US is weighing future aid for Citigroup, if needed. Read More
Roche has apparently capitulated in its fight to take over Genentech Inc. (NYSE: DNA). Its cancer franchise and its pipeline, along with a shareholder proxy fight, finally made Roche tip its hand. The company’s $86.50 tender offer, which was lowered already, was raised to $93.00 tender offer.
According to Reuters, too much dependence on government aid could cause a second recession when the companies are forced to stand on their own.
Reuters reports that Obama is considering funds to buy bad assets.
Reuters reports that February auto sales will be near a 27-year low.
Reuters reports that sales of the Apple (AAPL) Mac are growing overseas but face hurdles.
The board of Genentech (DNA) turned down an $86.50 offer by Roche to buy the part of the company that it does not already own.
Until about a month ago, the offer had been higher–$89. Read More
According to Reuters, JPMorgan (JPM) cuts its dividend.
Reuters reports that AIG (AIG) got bids from Met Life and Axa for its life unit.
Reuters says that healthcare spending is taking a higher percentage of American spending.
Reuters reports that Yahoo! (YHOO) will offer tools that match users to ads. Read More
According to Reuters, Honda (HMC) sales in the US fell in January.
Reuters reports that the premier of China sees hopeful signs in his economy.
Reuters reports that hard times make government jobs more attractive.
Reuters reports that online games are moving into Western markets as cheap entertainment.
According to Reuters, Republican may keep fighting Obama on the stimulus package.
Reuters reports that Roche dropped its bid on Genentech (DNA) to $42 billion.
Reuters writes that the Administration will release its plans to fix banks next week.
Reuters reports that NYS Attorney General Cuomo may try to get back $4 billion in Merrill Lynch bonuses.
Thomas Alva Edison accumulated 1,093 US patents over his lifetime. Most R&D operations are not that efficient.
Corporations hate research. It is expensive. The scientists know more about a company’s products than the management or sales staff do. But, research is a necessary evil for all pharmaceutical and technology firms and they have to support research or fall behind their competitors.
These are some of the top pre-market upgrades from Wall Street analysts this Wednesday morning:
Jon C. Ogg
October 22, 2008
According to Reuters, economic attention has now turned to the recession.
Reuters reports that a new survey shows that half of all workers are worried about their jobs
Reuters reports that unions are worried about a possible GM (GM) merger with Chrysler.
Reuters reports that many Asia nations are also considering bailing out their banks.
Genentech, Inc. (NYSE: DNA) today posted earnings of $0.81 per share and $3.408 billion in revenue. That’s below First Call estimates of $0.88 on $3.36 billion in revenue. For what this is worth, Genentech noted that earnings were affected by items.
After today’s close, we are expecting the earnings report of of biotech giant Genentech, Inc. (NYSE: DNA). First Call estimates are for $0.88 EPS on $3.36 billion in revenue. Today is going to be a very important day for Genentech shareholders, but we don’t think the importance will shine around the actual earnings report. Unless there is some major guidance surprise, we don’t even think the focus will be there on that data. Today ultimately boils down to the status of its merger.
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