Amarin Corp Plc (AMRN)

[sts66]

I meant to ask a question yesterday about Novartis and the CRL they got - isn't that a material event that should have been reported within 4 days of receipt, not something buried in a 10-K weeks later?

Speaking of them, they just bought out Endocyte for $2.1B after recently buying Advanced Accelerator Applications for $3.9B - and get this - Endocyte bought the product Novartis wanted for only $12M! I don't think Novartis makes a play for AMRN, doesn't fit in with recent acquisitions.

https://www.fiercebiotech.com/biotech/novartis-inks-2-1b-endocyte-buyout-furthering-radiotherapy-push?mkt_tok=eyJpIjoiTnpnd01UZzROREF4WmpSaiIsInQiOiJcL2t0QTRVVUFRMjlIOVwvZGpcL3l4Y2pvOUg0cnhFa1IwZDA1NzRmb3BBTnBwYUw0Q3lGRkgxcmlHMlhlNFlVRHlQdngwZjhURHA2aU9uSld0UkpUQVh4ZHpOVkhmTGQyYVE4SVZWNk5hYjd3SjY0eEFlVGIrRlNDV1UwUGpEZWlSRSJ9&mrkid=29746072

Novartis has struck a $2.1 billion (€1.8 billion) deal to acquire Endocyte. The deal caps off a whirlwind year for Endocyte, which licensed the cancer drug that caught Novartis’ eye for $12 million just 12 months ago.

Endocyte was in the doldrums when it pinned its hopes of recovery from previous clinical setbacks on radioligand therapeutic 177Lu-PSMA-617. The radioconjugated PSMA antagonist had just shown promise in an open-label, single-arm prostate cancer trial, but its owner, ABX, was willing to let it go for $12 million upfront. That has proven to be a remarkably good deal.

Novartis, fresh from paying $3.9 billion for Advanced Accelerator Applications, identified Endocyte and 177Lu-PSMA-617 as the next pieces of its push into the radioligand therapeutic market. And, with Endocyte’s stock having risen over the past year, it is set to pay $2.1 billion to get the deal done.