Speculation in small cap biopharmaceutical stocks has peaked and we urged weeks ago to raise cash positions to 10-15%. The ASCO “sell on the news effect” has continued today with some high fliers off significantly: Exelixis (EXEL $8.95) is off 18% after the Company reported over the weekend six deaths(1% of patients treated) in a [...]
The Life Science market consolidation trend continued today as Nestle SA acquires privately held Prometheus Laboratories, Inc. of San Diego,CA for about $567M according to a Bloomberg story although the price was not disclosed. Other stories put the price closer to $1B.Prometheus was forecasted to have revenues of $250M next year (they might be much higher) [...]
But ThermoFisher (TMO $65.12) is Up 3.78% on Volume of 3.2M Shares GenProbe (GPRO $84.10) down 2.9% sold off some of of the speculative gains from yesterday after ThermoFisherScientific (TMO) announced it was buying Phadia, a privately held Swedish diagnostic Company for $3.5B in cash. Phadia was sold by Pfizer in 2004 to private equity [...]
Deals Are Bullish for the Market Yesterday’s Alkermes (ALKS) deal with Elan (ELN) supports the major M&A trend in the life science market. Timing is everything in a hot market. The rationale for the current M&A activity is: technologies and pipeline fit strategically, money is cheap, and growth (growing internally takes too long). The parade [...]
Response Genetics(RGDX) announced a deal today for a non-exclusive license to provide GlaxoSmithKline (GSK) with certain rights to proprietary BRAF mutational analysis technology in human tumor samples. The BRAF gene encodes a protein involved in cell signaling and cellular growth and differentiation.Specific gene mutations have been correlated with the development of certain forms of cancer. [...]
Companion Diagnostics Enable More Targeted Therapy At the 2010 BIO Conference in Chicago with about 15,000 attendees there were ten Breakout Sessions on Biomarkers (BM) encompassing Intellectual Property, commercialization, reimbursement, drug development and diagnostics. This explosive new technology niche, is a nascent paradigm for exploiting breakthroughs in the molecular basis of disease and more targeted [...]
