Clovis Oncology has come out of the gate at ASCO with updated--and promising--data on its targeted lung cancer drug CO-1686, offering fresh evidence of its durability and effectiveness.
Among the lasting echoes of AstraZeneca's now-cooled M&A gamesmanship with Pfizer is a promise to grow sales a whopping 75% over 10 years, expecting to reach $45 billion by 2023. That sky-high estimate depends largely on the company's pipeline cancer treatments, and this weekend's meeting of the American Society of Clinical Oncology will shine a light on three drugs AstraZeneca projects to bring in about $12 billion at their peaks.
Pfizer's run at AstraZeneca is officially at an end. No more will-they-or-won't-they speculation, for at least a few months. What we're hearing now is a story of pride, prejudice, poor timing and miscalculation. CEOs and company boards are people, too, after all.
Now that the deadline for any quick deal to acquire AstraZeneca has passed, about the only certainty to emerge from the wrecked takeover is that the last thing Pfizer can do now is go back to business as usual.
With the official deadline for any immediate takeover discussions looming on Monday, Pfizer picked up its ball and bat and headed for the lockers, officially calling an end to its odd quest to buy out AstraZeneca.
Four times Pfizer has made offers to buy AstraZeneca and four times, the U.K. company has said no. But the world's largest money-management firm hopes in this case no doesn't mean no. BlackRock--which owns 8% of AstraZeneca and 6.8% of Pfizer--is encouraging discussions between the two companies, according to Bloomberg, which cited anonymous sources.
In the latest EuroBiotech Report, while critics of Pfizer's attempt to buy AstraZeneca spent the week celebrating a major blow to the deal, an awkward question remains: Exactly what has been "saved" from Pfizer's clutches? And more.
The state of Delaware is worried that it would lose AstraZeneca's U.S. headquarters--and the thousands of jobs that go with it--should Pfizer succeed in buying the U.K. company.
Richard Buxton, who heads up the U.K. Equities group at Old Mutual Global Investors, proposes AstraZeneca executives put their money where their mouths are. In other words, Buxton says AZ should tie executive compensation to results similar to the Pfizer payout.
The FDA has been harping at the industry to make sure it gets its manufacturing right and Moderna Therapeutics, which is developing a way to enable the in vivo production of therapeutic proteins, intends to make sure it does.