Sector News

BioMarin rises on buzz of a takeover–this time from Roche

July 11, 2016
Life sciences

BioMarin shares climbed more than 10% Thursday on talk of a potential takeover. And if that scenario sounds familiar, that’s because it is.

This time, the rumored interested buyer is Roche, according to the Betaville blog, whose sources say a deal for between $130 and $150 per share could be in the works. While it’s still unclear whether Roche has put forth a formal offer or held talks with BioMarin, one source said those processes may have been placed on hold on account of the Brexit vote and its impact on the markets.

It’s not the first time Betaville writer Ben Harrington has reported BioMarin interest from the Swiss pharma giant. Back in 2013, the blog said the Basel-based drugmaker was eyeing a $13.5 billion transaction for the San Rafael, CA-based company, fueling chatter that Roche CEO Severin Schwan tamped down not long thereafter.

For Roche, a cancer heavyweight, a buyout of BioMarin would beef up its rare-disease offerings, which currently include idiopathic pulmonary fibrosis med Esbriet. More recently, though, the buzzed-about potential buyer has been Sanofi, which Betaville said last month could be sizing up BioMarin as a potential backup if its quest to buy Medivation fails.

Lately, though, Sanofi’s taken a step in the right direction toward snagging its longtime target. Earlier this week, it agreed to drop a hostile pursuit of the California maker of prostate cancer star Xtandi after the company opened up its books.

Of course, it’s still entirely possible that Sanofi will lose out on its prize–especially considering that Medivation inked confidentiality pacts with “a number of parties” interested in a potential tie-up. Pfizer, AstraZeneca, Amgen , Gilead, Celgene and Novartis have all reportedly been taking a look at a deal for the San Francisco outfit.

By Carly Helfand

Source: Fierce Pharma

Related News

September 18, 2020

Eli Lilly, Amgen join forces to scale production of COVID-19 antibody cocktails

Life sciences

Months of fervid research have whittled away most potential options to treat patients with COVID-19, a group of antibody cocktails still hold promise. Eli Lilly believes so strongly in its contender that it’s […]

September 16, 2020

Takeda unveils new Boston R&D manufacturing center for cell therapy pipeline push

Life sciences

Japanese drugmaker Takeda has trumpeted its plan in recent years to cut billions of dollars in costs and pivot around oncology and rare diseases. A key part of that strategy […]

September 15, 2020

AstraZeneca, Oxford restart stalled COVID-19 test as Pfizer ramps up trial numbers for its vaccine

Life sciences

Just under a week after it stopped its key phase 3 pandemic vaccine test, AstraZeneca and the University of Oxford have been given the green light to restart in the […]