Biogen stock sinks as investors do reality check

Maybe all those high-flying expectations about a big-dollar buyout for Biogen Idec were a tad inflated. The Boston Globe is splashing a bucket of cold water on the idea after Biogen's stock price sagged--closing at $70.83 yesterday, down from its euphoric high of $84.75. DealReporter is saying that Roche and Sanofi-Aventis, among others, have dropped out of the bidding. And just weeks after a buzz of giddy speculation pushed Biogen's stock price into the stratosphere, outside observers are now counting all the obstacles that lie in wait for any would-be suitor. It could be, says one unnamed "observer," that there won't be any buyout at all. It may all come down to expectations and concerns about Tysabri, which has been regaining its footing in the MS market after being pulled in the wake of a major safety scare. Or, it could be that the big pharma players out there would like to see the price drop a few billion before the serious bidding gets underway.

- read the report from The Boston Globe

Related Articles:
Tysabri: The comeback kid. Report
Sources: Biogen gets bidders, with Pfizer in lead. Report
What's Biogen Idec really worth to Big Pharma? Report
Will Big Pharma buy Biogen Idec? Report
Biogen Idec in play after Icahn makes his move. Report

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