Reuters ups Icahn's take from Amylin buyout

Yesterday's story from Reuters that Carl Icahn made "only" 22% on his Amylin ($AMLN) investment evidently didn't win any smiles among the corporate raider's inner circle. Icahn enjoys a reputation for making big scores on his biotech plays. So perhaps it wasn't too surprising that an unnamed source set out to set the record straight. Icahn, reports Reuters, actually earned a far more respectable 35% return on his stake in the biotech. The $5.3 billion purchase price for Amylin has raised eyebrows among some of the analysts covering the buyout. A bit more than half of investors told ISI's Mark Schoenebaum that BMS ($BMY) overpaid. A little fewer than half felt it was the right price. In any case, now that Amylin's fate has been decided, look for Icahn to focus exclusively on his battle with Forest Labs ($FRX) for the time being. Story


Suggested Articles

Preclinical-stage biotech Abpro Therapeutics wants to trial its two lead candidates for HER2-positive cancers and diabetic macular edema in 2019.

After a rough patch in 2017, the stars seem to be realigning for French CAR-T expert Cellectis, which just closed a $164 million U.S. public offering.

Investment firm Frazier Healthcare Partners has closed its 11th fund—worth $780 million—that will help established companies accelerate their growth.