Gilead to Acquire Mycogen
Seems you can’t turn on your computer and read pharmaceutical news these days without seeing another merger or acquisition being announced.
Gilead to acquire Myogen for $2.5 billion - Yahoo! News
Gilead is the most recent player to spend a lot of money to purchase another company. They will spend over $2.5 billion to purchase Mycogen. Some analysts were shocked that Gilead, who only has experience in the HIV area, would go for a company that is outside this “area of expertise”. To me, it just makes sense; they are looking to diversify which is a good thing. Also Myogen has good pipeline of anti-hypertension drugs which show promise. Ambrisentan should have an NDA filed by the end of the year and is looked at as a potential billion dollar a year block-buster drug.
Gilead had already purchased Corus in Seattle, WA earlier this year for an inhaled antibiotic and so this further diversification should not have come as a shock. Corus’s inhaled antibiotic was for infections common among cystic fibrosis patients and is for a pulmonary disorder. Myogen markets Flolan which is one of the few drugs used to treat primary pulmonary hypertension (by agreement with GlaxoSmithKline).
Other Resources
• Gilead — Gilead Sciences to Acquire Myogen, Inc. for $2.5 Billion
• Myogen Press Release - Gilead to Acquire Myogen.pdf
• Yahoo! News Search Results for Gilead Myogen
• Gilead Myogen - Google News
Technorati Tags: Gilead, pharma M&A, pharmaceutical deals, Myogen
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