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Replies to post #171634 on Biotech Values
pcrutch
12/20/13 6:40 PM
#171672 RE: DewDiligence #171634
mcbio
12/20/13 8:20 PM
#171679 RE: DewDiligence #171634
Bayer acquires Algeta (AKGZF) for $2.9B in cash: finance.yBaahoo.com/news/bayer-set-acquire-cancer-specialist-101212730.html Bayer's offer, which Algeta rejected one month ago, was $2.4B (#msg-94429823). I’m calculating the buyout premium relative to the day before the original offer, which makes it 33%. Algeta, a Norwegian company, 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. It was cleared for marketing in the EU on 11/15/13.