Biotech Values

[Titan V]

An interesting related note on Raptor's eventual sale. On August 17, Spanish website Intereconomia had reported that Shire had made an $800M offer for Raptor.
http://intereconomia.com/noticia/shire-lanza-una-oferta-raptor-pharmaceutical-20160817-2106
(Open the link in Chrome and use the Translate option for translation to English)
http://thefly.com/landingPageNews.php?id=2419718&headline=SHPG;RPTP-Shire-makes-takeover-bid-for-Raptor-Pharmaceuticals-Intereconomia-reports

Today the rumor from August was realized with a sale, albeit to a different party.

On August 24, the same Intereconomia ran this news regarding NJ based Pernix Therapeutics (NASDAQ: PTX) saying that it in the final stretch of closing a $500M sale and that bidding was still ongoing.
http://intereconomia.com/empresas/la-venta-pernix-therapeutics-la-recta-final-20160824-2144

Investors dismissed the Raptor sale article as unfounded rumor from a "shady Spanish website" until it was proven otherwise today. Could the same happen with Pernix? Intereconomia is a legit TV/Newspaper/Online media in Spain btw.

A few notes on Pernix:
- Currently trades at $0.55 ($4.55 52wk high)
- It has 5 FDA approved drugs
- It has about $300M in debt (potential debt restructuring)
- Pernix's new CEO, John Sedor, has a history of turning around companies and selling them
->http://ir.pernixtx.com/phoenix.zhtml?c=84041&p=irol-newsArticle&ID=2182567
- It has a pending lawsuit by GSK, final hearing is some time in October
-> http://cafepharma.com/boards/threads/is-the-pending-lawsuit-with-gsk-preventing-sale-of-pernix.599055/
- Initial rumors of sale were reported by Reuters in February
-> http://www.reuters.com/article/us-pernixtherapeutics-m-a-idUSKCN0VH1W5
- There are rumors on cafepharma that TEVA could be a potential acquirer
-- Pernix's Zohydro ER could be a better alternative to TEVA's Vantrela ER, IMO
-> http://www.reuters.com/article/us-teva-opioids-fda-idUSKCN0YP2LK
-- Teva apparently increased its presence in Spain by acquiring Bentley Pharmaceuticals in 2008. John Sedor was the CEO of Bentley at that time
-- Pernix's products could appeal to TEVA's focus on generics

Will the PTX rumor materialize like Raptor's, is the question.