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Dendreon Anonim Ortaklik Message Board

  • sopchh182 sopchh182 Oct 28, 2013 11:06 PM Flag

    Potential buyer according Credit Suisse

    They believe potential buyers could include Johnson & Johnson (JNJ), Sanofi (SNY), Astellas (ALPMY) and Bayer (BAYRY). I believe it could be Roche or Novartis.
    So we are not shorts of candidats.

    Sentiment: Strong Buy

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    • buy ,shorts cover

      Sentiment: Strong Buy

    • where did you find this ?

      Sentiment: Hold

      • 1 Reply to amh124
      • here the whole article:

        Dendreon Seeks Acquirer: Should Investors Buy?
        October 28, 2013 at 8:55pm
        October 28, 2013, 11:30 A.M. ET
        Dendreon Seeks Acquirer: Should Investors Buy?
        By Ben Levisohn
        Late Friday, Bloomberg reported that Dendreon (DNDN) was looking to sell itself–a report that has sent the troubled drug maker’s shares shooting higher this morning. From the report:
        Bloomberg News
        Dendreon, the maker of Provenge, is working with JPMorgan Chase & Co. to find suitors, said one of the people, who asked not to be named as the process is private. The company, whose market value once topped $7 billion, has generated about $2 billion in losses over the past decade. That market capitalization now hovers at about $400 million.
        While some analysts find the news promising–Maxim Group upgraded Dendreon’s shares to Buy from Hold with a $10 price target–Credit Suisse warns investors not to expect too much upside. Analysts Lee Kalowski and team write:
        If DNDN can be sold, investors should not expect an outsized premium. The enterprise value of DNDN is around $750M ($385M plus $647M in debt principal minus $280M in cash), which equates to around 2.5x sales. But DNDN is facing notable commercial and financial struggles and we don’t foresee a big bidding war. Moreover, a sale would resolve the debt overhang, so it’s hard to imagine investors not being satisfied — almost regardless of price — since there are very few clear alternatives. A sale would remove a very real scenario of equity holders being wiped out in a debt restructuring.
        They believe potential buyers could include Johnson & Johnson (JNJ), Sanofi (SNY), Astellas (ALPMY) and Bayer (BAYRY).
        Roth Capital Partners Joseph Pantginis is even less enthusiastic about the possibility of a sale. He writes:
        Dendreon remains in trouble, in our belief, and is not an attractive asset to purchase. While a nice headline positive we believe that the sale of Dendreon will still present significant hurdles to a potential acquirer an

        Sentiment: Strong Buy

    • J&J and Novartis should be leading candidates. J&J would be able to market Provenge in combination with Zytiga. Novartis would be able to take advantage of Dendreon expertise to ramp up its immuno division and achieve synergy with Provenge manufacturing line.

    • nice find...