Healthcare Review: Alnylam Shoots The MOON, Glaxo ACQUIRES Human Genome
Here are Monday’s top stories:
Shares of biotech firm Alnylam Pharmaceuticals (NASDAQ:ALNY) increased their value by more than half, following the news that a study showed ALN-TTR02, a potential treatment for a genetic mutation of the transthyretin gene, reduced serum TTR protein levels in a way that was “rapid, dose dependent, durable, and specific after just a single dose.”
Don’t Miss: Abbott Labs’ Second Quarter Earnings Sneak Peek.
St. Jude Medical (NYSE:STJ) reported that the initial findings of a study indicated that the erosion of leads for its recalled Riata defibrillator, occurred from the inside out most often in cables with larger diameters. St. Jude is currently fighting a class action lawsuit over the leads.
GlaxoSmithKline (NYSE:GSK) acquires Human Genome Sciences (NASDAQ:HGSI), following a protracted struggle and increasing the offer from $2.8 billion ($13 per share) to $3.6 billion on equity at 14.25 per share. The latter amount is almost twice Human Genome’s $7.17 close on April 18th, which was just before the public announcement of Glaxo’s initial offer. The transaction is being valued at $3 billion, net of cash and debt.
Don’t Miss: Will Vivus Share Arena’s VICTORY?
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.