May 10 (Reuters) – Premium jeans maker True Religion Apparel
Inc said on Friday it has agreed to be acquired by
investment management firm TowerBrook Capital Partners LP in a
deal worth about $835 million.
TowerBrook will pay $32 per share in cash, representing a
premium of about 9 percent to True Religion’s closing price on
May 9 (Reuters) – Sales of Dendreon Corp’s prostate
cancer vaccine Provenge declined in the first quarter despite
efforts by the biotechnology drugs maker to shore up flagging
The company’s shares fell 14 percent to $4.06 in morning
trade on the Nasdaq. They touched a low of $3.95.
May 2 (Reuters) – Generic drugmaker Actavis Inc,
formerly Watson Pharmaceuticals, reported a higher-than-expected
first-quarter profit after launching several new products, and
raised its full-year profit forecast.
The company, the topic of takeover chatter last week, also
said it was in “routine discussions” for product deals and even
large-scale merger and acquisitions.
(Reuters) – Allergan Inc said approval of its Darpin eye drug could be delayed up to two years, providing a new boost to Regeneron Pharmaceuticals Inc whose successful treatment Eylea stands to gain from a lack of new competition.
Shares of Allergan, which makes wrinkle treatment Botox, were down nearly 12 percent after the company said mid-stage trial results of Darpin did not warrant an immediate move into far larger late-stage trials. Regeneron shares were more than 11 percent.
By Esha Dey
(Reuters) – Allergan Inc (AGN.N: Quote, Profile, Research, Stock Buzz), maker of the Botox anti-wrinkle treatment, said it will delay late-stage trials of its highly anticipated eye drug Darpin, sending its shares down 14 percent.
Shares in Regeneron Pharmaceuticals Inc (REGN.O: Quote, Profile, Research, Stock Buzz) rose 14 percent on news that the potential rival to its Eylea drug, used to treat the leading cause of blindness in the elderly, would take longer than expected to reach market.
April 18 (Reuters) – Exact Sciences Corp said its
molecular screening test for colorectal cancer met its goals in
a large late-stage study, detecting the disease in more than 90
percent of patients, but its shares plummeted as much as 30
percent on Thursday as the results were not as robust as some
Exact’s test, which identifies abnormal DNA in cells shed in
a patient’s stool, detected 92 percent of colorectal cancers and
42 percent of pre-cancerous polyps in a large late-stage study.
(Reuters) – Exact Sciences Corp said its molecular screening test for colorectal cancer met its goals in a large late-stage study, detecting the disease in more than 90 percent of patients, but its shares plummeted 30 percent on Thursday as the results were not as robust as some were expecting.
Exact’s test, which identifies abnormal DNA in cells shed in a patient’s stool, detected 92 percent of colorectal cancers and 42 percent of pre-cancerous polyps in a large late-stage study.
April 2 (Reuters) – Neurological and dermatology drugs maker
Merz Pharma Group offered to buy cosmetic products maker Obagi
Medical Products Inc for $383.5 million, topping a bid
by Canada’s Valeant Pharmaceuticals International Inc
Merz’s $22-per-share bid represents a premium of 11 percent
to Valeant’s offer of $19.75.
March 20 (Reuters) – Canada’s Valeant Pharmaceuticals
International Inc said it would buy Obagi
Medical Products Inc for about $344 million to boost
its dermatology business, pushing ahead with a strategy of rapid
growth through acquisitions.
The offer price of $19.75 a share represents a 28 percent
premium to Obagi’s Tuesday closing price on the Nasdaq.
(Reuters) – Vivus Inc, vying to create the world’s first billion-dollar weight-loss pill, is taking a cautious approach to marketing in an attempt to overcome the skepticism, safety concerns and lawsuits that have dogged the diet drug industry.
The company has lost nearly half of its market value since lackluster sales tarnished the September launch of the first new weight-loss pill in the United States for 13 years. Two of its it’s largest shareholders have questioned the company’s strategy.