VIVUS (VVUS) Could Be Bought For Up to $40/Share
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Price: $0.47 --0%
Rating Summary:
3 Buy, 6 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
3 Buy, 6 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Shares of VIVUS, Inc. (Nasdaq: VVUS) are seeing an upside bias early Thursday following a speculative Bloomberg article suggesting the company is a takeover target following FDA panel backing of its obesity treatment Qnexa.
The article cited research from Cowen & Co. which suggested approval of the drug would make the company worth as much as $40 per share in a deal. That's a 78 percent premium to Wednesdays' closing price.
The FDA action date on Qnexa is April 17, which could bring with it approval of the drug. On February 22nd, an FDA panel voted 20-2 to recommend approval based on a favorable benefit-risk profile. The FDA normally votes in-line with the recommendations of an FDA panel.
Annual sales of the Qnexa could hit $5 billion by 2020, according to Rodman & Renshaw LLC. This would make pharmaceutical giants like Johnson & Johnson (NYSE: JNJ), Merck & Co (NYSE: MRK. and Bristol-Myers Squibb Co. (NYSE: BMY) interested in VIVUS.
Shares of VVUS last traded at $23.00 in pre-open trading, up 2.2 percent from the close.
The article cited research from Cowen & Co. which suggested approval of the drug would make the company worth as much as $40 per share in a deal. That's a 78 percent premium to Wednesdays' closing price.
The FDA action date on Qnexa is April 17, which could bring with it approval of the drug. On February 22nd, an FDA panel voted 20-2 to recommend approval based on a favorable benefit-risk profile. The FDA normally votes in-line with the recommendations of an FDA panel.
Annual sales of the Qnexa could hit $5 billion by 2020, according to Rodman & Renshaw LLC. This would make pharmaceutical giants like Johnson & Johnson (NYSE: JNJ), Merck & Co (NYSE: MRK. and Bristol-Myers Squibb Co. (NYSE: BMY) interested in VIVUS.
Shares of VVUS last traded at $23.00 in pre-open trading, up 2.2 percent from the close.
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