Rumors of buyout interest heat GenMab stock

There's been some heated speculation that Biogen Idec--the jilted biotech turned avid suitor--is taking a close look at GenMab, a Danish company in trials for HuMax, a new leukemia therapy. HuMax, though, has been partnered with GlaxoSmithKline, which may want to counterbid against any takeover move. Glaxo already owns 10 percent of GenMab's shares. Novo Nordisk has also been listed as a potential suitor. GenMab shares were up 5.62 percent in a stormy European market

Late-stage data on HuMax is due in the late spring, analysts noted, adding that any takeover at this stage would include some dramatic risks. That might suit Biogen Idec, though. Its CEO was scornful that big pharma companies were unwilling to offer what he thought the company was worth, and then set out to do his own deal for up to $10 billion.

- read the report from Trading Markets
- and here's the report from The Times

ALSO: ImClone Chairman Carl Icahn has three people he'd like on Biogen's board, including ImClone board member Alexander Denner. Report

Related Articles:
Biogen CEO spells out interest in biotech buyout. Report
Biogen CEO: Pharma too wimpy to deal. Report
Biogen shares deflate as it gives up on sale. Report
Glaxo forges $2.1B deal for HuMax-CD20. Report

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