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Entries tagged "pharmaceutical"Ray of light for life sciences VCs?The health sector passed a curious milestone: For the first time venture funding of life sciences topped information technology investments. Boston Scientific eyes M&A as biotechs sufferBoston Scientific Corp. CEO Jim Tobin, a guy who knows a thing or two about acquisitions, spoke at the Cleveland Clinic's Medical Innovation Summit Wednesday. Lazard Capital Markets LLC analyst Sean Lavin summarized Tobin's speech in a note to clients Thursday morning. First, Tobin reinforced what he and other execs have said recently: Boston Scientific is on the prowl with $2 billion in cash on hand. The downturn could present good deals for the diversified medical device maker, which is trying to dig out of the hole it created with its $27 billion takeover of Guidant Corp. in 2006.... No Avastin bump for GenentechSwiss drug giant Roche Holding AG said Tuesday it's still committed to a "negotiated settlement" in its pursuit of Genentech Inc. The remark came from CEO Severin Schwan during the firm's quarterly earnings call. In July Roche bid $43.7 billion, or $89 a share, for the 44% it doesn't already own. Genentech's board said it was too low but left the door open to higher offers. ... Cell Genesys tanks, takes Takeda cash with itBiotech firm Cell Genesys Inc. said it's laying off 290 people, or 75% of staff, and possibly seeking a buyer. That's a big blow to the Bay Area biotech work force and probably the end of a company that had pushed its prostate cancer vaccine, GVAX, into the final stages of testing. But the firm decided to cut short the second of two trials because the drug wasn't helping patients survive. The drug was meant to work by stimulating the body's immune system to attack the cancer. ... Will someone swallow Bristol-Myers?Could Bristol-Myers Squibb Co. be entertaining a sale in the future? Sanford C. Bernstein & Co. LLC analyst Tim Anderson might answer "good chance" based on a note he recently wrote, according to a Reuters article. ... More Daiichi detailsThe Daily Deal reported Wednesday on Japanese drug firm Daiichi Sankyo Co. Ltd.'s $235 million takeout of German biotech U3 Pharma AG, but a few questions for Daiichi went unanswered because of the 16-hour time difference. An e-mail Thursday morning and more time to dig have shed more light on the deal. ... Bear Stearns' impact on IPOsWe know that Bear Stearns Cos. shareholders are in a world of pain. What about its customers? Details of the pennies-on-the-dollar bailout by J.P. Morgan Chase & Co. and the feds have yet to emerge -- if the bailout actually happens -- but at least we can start looking into pieces of Bear's business. ... PDL BioPharma continues asset salesThe fire sale continues at PDL BioPharma Inc. as the biotech company unloaded yet another asset Thursday, selling its antibody manufacturing facility to Danish biotechnology company Genmab A/S for $240 million. ... Top tagsYou have executed a tag search on Dealscape. On the left,you will find a comprehensive list of stories tagged "pharmaceutical." Below are the most-popular tags for Dealscape. On the right of the page you will find a search box to dig deeper into our content.
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