Replies to post #86225 on Biotech Values

[rkrw]

I think they overpaid for zymo. I do think they got a good deal for medx even though I don't think much of the melanoma program.

[DewDiligence]

BMY:

it all started with erbitux but that probably ended up being the best 2B they spent…

When you include BMY’s clinical and regulatory expenses, BMY spent much more than $2B to acquire an approximately 40% profit share of Erbitux in the US. In no way was Erbitux the best deal money BMY ever spent.

[DewDiligence]

FWIW: Board readers who took survey #127 overwhelmingly thought BMY-MEDX was a better deal for the acquiring company than AMGN-Abgenix and AZN-Cambridge Antibody.

If you have already taken the survey, you can view the results at: http://investorshub.advfn.com/boards/board_survey_results.asp?board_id=1418&Survey_Num=127

[DewDiligence]

…capped by BMY not paying more for imcl than they felt it was worth when LLY stepped in.

I too was impressed by BMY’s discipline to not overpay for IMCL the second time around. Jim Cornelius could end up being one of the best CEO’s BMY has ever had (which rkcrules will probably note is not saying much).

It seems to me that Cornelius is cleaning up BMY for an eventual sale despite his assertions to the contrary, which can be viewed as necessary disinformation to ensure that BMY gets the best possible price when the time is right.

[drbio45]

dewophile

do you realize that amgen got dmab from their deal with abgenix. Amgen was trading at 40 when the dmab data came out. It is the only thing keeping amgn from going into the thirties