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DewDiligence

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Re: JohnWayne post# 161161

Tuesday, 11/26/2013 8:45:58 AM

Tuesday, November 26, 2013 8:45:58 AM

Post# of 257391
Bayer offers $2.4B in cash for Algeta (AKGZF), a 27% premium to yesterday’s close:

http://finance.yahoo.com/news/bayer-makes-2-4-billion-063418187.html

Algeta has not (yet) accepted the offer.

Algeta developed the cancer radiotherapy, Xofigo and has co-marketing rights with Bayer in the US; in the rest of the world, Bayer pays Algeta a royalty on sales.

Xofigo has had a slow sales ramp since its May 2013 FDA approval, as detailed in #msg-91684833. (In the EU, Xofigo was approved by the CHMP in Sep 2013, but it is not formally cleared for marketing.)

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