There's nothing like a successful development record when it comes to attracting attention as a potential M&A target. For Alexion, you can also add new research for Soliris, the world's most expensive therapeutic. Designed to treat a rare genetic disease, Alexion (ALXN) has mounted four new clinical trials for another rare disease--atypical hemolytic uremic syndrome.
Alexion also has $157 million in cash and equivalents, and its near-term market potential has driven its share price to a stratospheric $57. "The data is less than a year away and is something that would change the expected takeout price. Everything points to it being positive, so for (Alexion) to want to sell it beforehand--it almost sounds irresponsible," Brean Murray, Carret and Co analyst Jonathan Aschoff, tells Reuters.
But there seem to be plenty of potential bidders, the news service adds. Bristol-Myers Squibb, Merck, Genzyme, Celgene and Amgen make the list.
"I think the company is very unmotivated to sell, except at a very high price because they are executing flawlessly," Cowen's Craig Gordon said.
- here's the article from Reuters