Another Biotech Acquired - Imclone
August 1st, 2008Bristol-Myers Squibb made an offer today to purchase Imclone Systems for $60 per share or $4.5 billion in cash. Bristol already owns about 17 percent of Imclone so today’s offer values Imclone at $5.2 billion.
The offer was a 30 percent premium over Wednesday’s closing price of $46.44 per share. Shares of Imclone closed at $63.93, [...]
Current Biotech Valuations - Follow Up on Study
July 22nd, 2008After the news release of Roche’s merger proposal for the remaining stake in Genentech today, I thought the time was right to complete my previous post.
To reiterate, there were two important pieces of information that I found useful after completing my study. First, the loss in market cap amongst the small cap companies comprising the [...]
Change in Biotech Industry Market Caps - 2 Year Analysis
July 16th, 2008In my previous post I discussed a useful valuation metric applied to development stage biotech companies. I also stated that we would look at the results from a small study I completed on the change in total market cap of the companies comprising the two biotech indices over the past two years.
The purpose of the [...]
Welcome Biotech Enthusiasts - Valuing Small Cap Biotechs
July 13th, 2008I’ve decided to make the effort to design a relatively simple study to determine the change in valuations of the biotech and pharma industries over the past two years. I find this type of analysis useful in my profession by comparing the changes in the major biotech indices and the aggregate market cap of the [...]
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