Morning Briefing
Summaries of health policy coverage from major news organizations
Busted Mega-Mergers Have Big Pharma Eyeing Smaller Players -- And Biotechs Couldn't Be Happier
The Wall Street Journal: Big Pharma’s Big Checkbooks Drive Biotech Resurgence
Drug companies are starting to open their wallets again. That means big things for small biotechs. Merger-and-acquisition activity has returned with a fury. Allergan announced Tuesday it had acquired Tobira Therapeutics in a deal worth up to $1.7 billion if Tobira’s products hit certain milestones. That amounts to more than 19 times Monday’s closing price. (Grant, 9/21)
The Wall Street Journal: Sarepta To Sell Up To $225 Million Of Stock
Sarepta Therapeutics Inc. intends to sell up to $225 million of stock and use the proceeds for clinical trials, drug commercialization, manufacturing and other purposes. The company’s shares surged 74% to $48.94 on Monday as the U.S. Food and Drug Administration gave accelerated approval to eteplirsen, its drug for Duchenne muscular dystrophy, following sharp disagreements within the agency. Sarepta stock rose 14% on Tuesday, when it received favorable patent decisions in a dispute with BioMarin Pharmaceutical Inc. (Beckerman, 9/21)
