Pfizer announced $14 billion deal for cancer drug developer Medivation. The offer price of $81.50 per share in cash, is a 21 percent premium to Medivation share closing price of Friday, and is significantly higher than the $52.50 per share offered earlier this year by French competitor Sanofi.
Nasdaq Biotechnology Index ETF (IBB) gained more than 2 percent Monday morning, for its best performance in almost a month. Biotech stocks have been languishing for last few months for a variety of reasons. After Medivation, which was trading up about 20 percent, it was led by Regeneron, Incyte, Celgene and BioMarin — themselves all potentially targets of takeover speculation, whether or not they are actually targets for takeovers. Celgene is also, and more frequently, cited as a potential buyer. Reference: CNBC article
WALTHAM, MA, Nov 12, 2015 (GLOBE NEWSWIRE) — Interleukin Genetics, Inc. (OTCQB:ILIU) today announced financial and operational results for its fiscal third quarter of 2015, ended September 30, 2015.
“Since joining Interleukin Genetics in April, I have been focused on developing a strategic and operational plan that will lay the groundwork for driving market adoption of PerioPredict®, our genetic test that identifies individuals with a life-long predisposition to over-produce inflammation. Elevated inflammation is implicated in numerous chronic diseases.” said Mark Carbeau, CEO of Interleukin Genetics.
“We are encouraged by the reception of our enhanced positioning that outlines medical value for managing inflammation through practical dental interventions”, Mr. Carbeau continued. “Medical studies now document the role of systemic inflammation in driving serious chronic diseases such as diabetes, cardiovascular disease and periodontitis. Studies also document that preventive dental care and treatment of periodontitis lower systemic inflammatory burden, and that these dental treatments provide substantial medical cost savings for patients with certain chronic diseases. PerioPredict helps identify and engage high risk patients who will benefit from these interventions. Our demand generation efforts are being focused initially on large employers and insurance carriers; we continue to make progress on both fronts.” Continue reading Interleukin Genetics Reports Q3 2015 Results
Celldex Therapeutics (NASDAQ: CLDX) is a biopharmaceutical company that focuses on development, manufacturing, and commercialization of novel therapeutics for human health care primarily in the USA. Celldex was founded based on a fundamental scientific belief that harnessing the power of the immune system would break significant barriers in drug development for a host of devastating diseases.
Its lead drug candidates include rindopepimut (CDX-110), a targeted immunotherapeutic in a pivotal Phase III study for the treatment of front-line glioblastoma and a Phase II study for the treatment of recurrent glioblastoma; and Glembatumumab vedotin (CDX-011) is a targeted antibody-drug conjugate in a randomized study for the treatment of triple negative breast cancer. Continue reading Celldex Therapeutics (CLDX)