A Celgene (CELG) / Human Genome Sciences (HGSI) Deal Seen as Unlikely
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A host of biotech watchers have been quick to dismiss reports over the weekend from Reuters that Celgene (Nasdaq: CELG) could make a bid for Human Genome Sciences (Nasdaq: HGSI).
At least three in-the-know biotech folk have said a deal between the two doesn't make sense.
Rodman & Renshaw's Michael King said Celgene shareholders would have "little tolerance" for such a deal. TheStreet's Adam Feuerstein strongly states "Celgene is not buying Human Genome Sciences," citing a source in contact with Celgene management. ISI's Mark Schoenebaum also said a deal doesn't make sense and he puts the odds of such a deal at less than 10%.
In May, HGSI rejected a $13 per share offer from GlaxoSmithKline (NYSE: GSK).
At least three in-the-know biotech folk have said a deal between the two doesn't make sense.
Rodman & Renshaw's Michael King said Celgene shareholders would have "little tolerance" for such a deal. TheStreet's Adam Feuerstein strongly states "Celgene is not buying Human Genome Sciences," citing a source in contact with Celgene management. ISI's Mark Schoenebaum also said a deal doesn't make sense and he puts the odds of such a deal at less than 10%.
In May, HGSI rejected a $13 per share offer from GlaxoSmithKline (NYSE: GSK).
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