You're overlooking several fundamental points. There are no other $B opportunities that Phama
can go after, and PFE, MRK AZN have had major revenue losses due to patent cliffs. Aside from
a combo pill (Statin and Vascepa) all of the above would be very motivated to aquire AMRN. This
can't happen until a proper valuation can be determined, and that can't occur until a decision is
made on the NCE. I just happen to be in Industry, and can suggest that interest level is high. I am
not involved with any of the above mentioned companies.
Reason is BID vs.ASKED
In April/MAY 2011-- Bid was 15 and ASK was 30---check Bloomberg article on June10,2011.
Now it is Bid 20$ and Ask is 30$/share.
Lazard Ltd. has to bridge the gap somehow or find a compromise.
Example: BMY bid 22$ for Amylin---Amaylin was asking 34$
BMY upped the bid to 26$--but Amaylin changed ASK to 33$.
Finally Goldman Sachs found Astra Zeneca to jointly bid with Bristol Myers.
The bid was raised to 31$/share. Amaylin accepted.
I owned AMLN--and read the bidding process in SEC report.
Goldman Sachs played a great role.
Lazard must be trying to narrow the gap -so Amarin's CEO accepts and can sell it to the Board of Directors and shareholders.