Take two: Is Clovis Oncology a buyout target?

In the absence of an actual biotech buyout to report, speculation will have to do. Bloomberg put the spotlight on Clovis Oncology ($CLVS), which reportedly tried to sell itself a couple of years ago--a mention of which usually causes Clovis CEO Patrick Mahaffy's eyes to start rolling. Why Clovis? Two breakthrough drug designations and a high-profile role in cancer drug development--the industry's sweet spot for deals--didn't hurt its chances. And after AbbVie ($ABBV) agreed to pay a jaw-dropping $21 billion for Pharmacyclics, the sky's the limit in terms of potential premiums. One ambitious analyst at Goldman put a prospective buyout price for the Boulder, CO-based biotech at $179 a share, twice what it's been trading for. Report

Suggested Articles

In this week's EuroBiotech Report, Sitryx inks Lilly deal, Genfit downplays COVID-19 impact on NASH data and Gilead tests remdesivir in U.K.

Amgen and new partner Adaptive Biotechnologies are the latest pharma-biotech duo joining forces against the pandemic.

In our EuroBiotech roundup this week, AM-Pharma raises €23 million, Nordic Nanovector makes cuts and Neurimmune, Ethris plan COVID-19 trial.