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Biotech Takeover Buzz Hot and Heavy After ImClone Offer (ONXX, OSIP, BIIB, AMLN, XPNT, CYPB, ISPH)
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Takeover buzz in the biotech sector is hot and heavy today after news Bristol-Myers Squibb Co. (NYSE: BMY) offered to acquire ImClone (NASDAQ: IMCL) for $60 per share. Today's news also follows a host of other deals in the sector, most notably Roche's offer to acquire partner Genentech Inc. (NYSE: DNA).
Here are some movers:
Onyx Pharmaceuticals Inc. (Nasdaq: ONXX) up 10%; partnered with Bayer on Nexavar
OSI Pharmaceuticals Inc. (Nasdaq: OSIP) up 6%, makes cancer drug Tarceva
Biogen Idec Inc. (Nasdaq: BIIB) up 2.2%; Like ImClone, Carl Icahn owns a large stake in BIIB and wants the company sold. Last year, the company tried to sell, but was unsuccessful.
Amylin Pharmaceuticals Inc. (Nasdaq: AMLN) up 10%; Like ImClone, Carl Icahn owns a large stake in AMLN and wants the company sold.
Xenoport, Inc. (Nasdaq: XNPT) up 4.5%; partnered with Glaxo (NYSE: GSK)
Cypress Bioscience, Inc. (Nasdaq: CYPB) UP 1.8%, partnered with Forest Labs (NYSE: FRX)
Inspire Pharmaceuticals, Inc. (Nasdaq: ISPH) up 1.6% partnered with Allergan (NYSE: AGN)
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