Follow up on Gilead to Acquire Mycogen
Forbes it seems has weighed in on the move by Gilead to acquire Myogen for a 50% premium.
Gilead’s Big Shift - Forbes.com
The article says that several analyst didn’t like this because they felt it took Gilead’s focus away from antivirals. My thought on this is that you can never keep analyst happy, they seem to enjoy being negative. Now everyone wants Gilead to stay focused on just antivirals. At other times they have said that other companies (not necessarily Gilead) are too focused and should diversify. The problem is, they never really give their rational as to why that should be the case and why the current timing is wrong.
I personally think that gilead had money and needed to use it to diversify. I do think they probably paid too much. a 50% premium is a little on the expensive side but as I said earlier, I feel the potential for ambrisentan may be worth it.
Technorati Tags: Gilead, Myogen, pharma M&A, pharmaceutical deals, ambrisentan
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