GlaxoSmithKline (GSK) Rumored to be Buying $5 Billion BioMarin Pharmaceutical Inc. (BMRN)
6/12/2012 7:17:13 AM
The pharmaceutical giant's hostile $2.6bn (£1.7bn) takeover bid for US-based Human Genome Sciences has provided those traders and hedge funds that bet on takeover deals a rare moment of excitement in a lacklustre dealmaking environment. However, yesterday Glaxo was linked with a new multi-billion dollar takeover bid for a US pharmaceutical company. Last week reports suggested Shire, up 12p at £18.91, was the UK-based predator stalking BioMarin, which researches and develops therapies for chronic genetic disorders causing enzyme deficiency of carbohydrate metabolism. Now, though, the latest gossip is Glaxo, down 4½p to £14.39, is in advanced discussions to buy BioMarin.