Replies to post #7144 on ANI Pharmaceuticals (ANIP)

[Just the facts maam]

Thanks North. At least the markets were aware of the partnerships Medarex had with Pfizer and Bristol Myers Squibb. PPS reflected these partnerships before BMY made their offer at a 90% premium.

Medarex was much more upfront with their shareholders and gave GS a much fairer starting point for the valuation. Anip on the other hand can't use present PPS as a fair starting point as the markets have given zero value to Libigel. They have to consider 70% reduction in CV events and most likely a potion of Breast cancer reduction claims (assuming the discovery was identified by the silent partner). Most certainly how they value that will be open to debate.

It will be interesting to see what unfolds.

[Just the facts maam]

North, upon researching short form mergers, I see that one strategy to get to 90% is to issue new shares to the acquiring company. That may be the intent of ANI's $350 million shelf registration.

[biopharm]

I agree and just to remind how Goldman Sachs (or how any other biotech can legally cover themselves...) covered themselves and actually put the failure back on Medarex BODs.

"Goldman Sachs' Letter to MEDX Board of Directors (BOD) OPENLY Acknowledges that MEDX BOD Failed to Perform Its Fiduciary Responsibilities.... "

" "We [Goldman Sachs] were not requested to solicit, and did not solicit, interest from other parties with respect to an acquisition of or other business combination with the Company."
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