Generic-drug giant Mylan announced Wednesday that it had bid $205 a share in cash and stock for sizable peer Perrigo, sending both stocks soaring. Although Perrigo (PRGO) hadn’t agreed to a deal, Mylan (MYL) indicated that the two had been talking. “This proposal is the culmination of a number of prior discussions between Mylan and Perrigo about the compelling strategic and financial logic of this combination,” Mylan Executive
Drugmakers showed their appetite for orphan-disease drugs Monday, with two billion-dollar-plus deals sending stocks soaring. Israeli drug giant Teva Pharmaceutical Industries (TEVA) agreed to pay $101 a share in cash for Auspex Pharmaceuticals (ASPX), a development-stage biotech that plans to apply for approval of its Huntington’s disease treatment in the next few months. The company is also developing treatments for other central-nervous-system
SanDisk slashed its Q1 revenue outlook Thursday, the latest big chipmaker to do so in recent weeks, exacerbating a recent sell-off in semiconductor stocks. But analysts and executives for the chipmakers say the warnings relate mostly to specific challenges and market sectors rather than broad industry woes. “It’s more company-specific and subsector-specific,” said Summit Research Partners analyst Srini Sundararajan. “More shoes