Kevin, here's news today showing how Sanofi acquired Genzyme for $20B partly for a future drug that then got rejected today. As part of the acquisition, there is a stipulation to adjust the acquisition cost in case of rejection.
December 30, 2103 PARIS (Reuters) - Sanofi's Lemtrada multiple sclerosis treatment has failed to win approval from U.S. regulators, dealing a setback to a drug which was at the heart of the French drugmaker's $20 billion takeover of biotech firm Genzyme.
The U.S. Food & Drug Administration (FDA) rejected Lemtrada for launch in the world's biggest drug market on the grounds that Genzyme had not shown its benefits outweighed its "serious adverse effects", Sanofi said on Monday.
The FDA also demanded Sanofi carry out further clinical trials using different designs and methods prior to approval, Sanofi said. The company said it strongly disagreed with the decision and planned to appeal.
The FDA ruling could impact the value of Sanofi's Genzyme takeover, since the latter's shareholders had received so-called contingent value rights (CVRs) entitling them to future payments of up to $14 a share if certain goals were met.
hey oppie......now i have mnkd,kerx,vnda, and orex!!!! my big plays for QTR 1 of 2014!!! happy new year!! i do research and invest MY TIME WISELY verses your rediculous posts and the time you waste here. junk-talk.JMHO
turk......".the fun is speculating on this board".....exactly!!!!!!!!!!!!!!!!! trying to hold a conversation with oppie is like talking to my EXWIFE........oh, the pain.JMHO
"AND there's no reason a partnership shouldn't have been signed a LONG time ago"
Really? No reason whatsoever?? Do you really mean that?
You could coast with 'could have been signed a while ago',
Your emphatic statement suggests you know things you just don't.
Don't know about you guys but I am always suspicious of government agencies like the FDA. Seems like they perpetuate their jobs by making the drug approval process as long and secretive as they can. And everyone on the FDA board should have a health concern so they understand what us consumers go through.
Sentiment: Strong Buy