The Day In Review: Gilead Sciences (Foster City, CA) (GILD) Gets Myogen (MYOG) In $2.5 Billion Deal
10/2/2006 5:50:04 PM
October 2, 2006 -- Gilead offered $2.5 billion for Myogen, a 50% premium, in a deal that took considerably more out of Gilead than it gave to Myogen; Micromet and Serono reported mixed interim data from two trials of a cancer drug; GlaxoSmithKline won priority review for Arixtra, its anticoagulant; Genzyme received European approval for pain drug Synvisc; Xoma signed a cross-license agreement with Affimed; Merck said interim data from an HIV drug look good; Adams Respiratory filed a lawsuit to protect Mucinex, its expectorant; GTC and LFB-Biotechnologies will collaborate on an anti-clotting drug; and Celgene reported positive data from a Phase II trial of Revlimid for non-Hodgkin’s lymphoma. The Centient Biotech 200™ fell 31 points to 3790.66, a drop of .81%. More details...