I think if ENTA identified and placed a NASH Candidate in the clinic that would seal the deal. A NASH drug would fit nicely into AbbVie's sales channel and just what they are looking for. New untapped Billion dollar market. ENTA's NASH technology is same pathway as ICPT and if they can have a better side effect profile it can be a 3 billion dollar valuation by itself.
Drug maker AbbVie Inc. is hiring a top investment banker from J.P. Morgan to a newly created senior strategy post, a sign that AbbVie plans to remain active on the deal front.
AbbVie, a J.P. Morgan client, is naming Henry Gosebruch as its chief strategy officer, reporting to Chief Executive Richard Gonzalez effective in December, both companies said Wednesday.
Mr. Gosebruch, 42 years old, is currently co-head of North America mergers and acquisitions for J.P. Morgan, and has been with the firm since 1994, J.P. Morgan said. At AbbVie, his responsibilities will include strategic planning, licensing and acquisitions, and managing alliances with other companies, an AbbVie spokesman said. These functions have previously been split between other senior AbbVie executives.
AbbVie created the new post and tapped Mr. Gosebruch because “we recognized the increasingly important role that corporate strategy and business development will continue to play in our future success, and this will enable us to enhance our focus on those areas,” the AbbVie spokesman said.
AbbVie has been in the hunt for large deals recently. In May, it paid $21 billion to purchase blood-cancer drug developer Pharmacyclics. Last year it agreed to buy Shire PLC for about $54 billion, but subsequently abandoned the deal.
I think we will qualify for a Breakthrough Therapy Designation per the FDA criteria:
Breakthrough therapy and fast track designation programs both are intended to expedite the development and review of drugs for serious or life-threatening conditions, but there are differences in what needs to be demonstrated to qualify for the programs. A breakthrough therapy designation is for a drug that treats a serious or life-threatening condition and preliminary clinical evidence indicates that the drug may demonstrate substantial improvement on a clinically significant endpoint(s) over available therapies. In contrast, a fast track designation is for a drug that treats a serious or life-threatening condition, and nonclinical or clinical data demonstrate the potential to address unmet medical needs for the serious condition.
If IMGN received such an indication, how would this change the perception of the company among investors?
When Broadfin has complete control, I'm confident they will find the cash to get this across the finish line. Strong BOD members will bring key connections at other interested companies with expertise in solving engineering/manufacturing problems or interest in taking an investment stake with eventual plans to acquire. Broadfin control will garner investor confidence. Also a Japan approval can help. Distressed companies with great technology but a weak bench are of high interest by potential acquirers.
We bottomed exactly on the shoulders of the inverted head & shoulder pattern and now will test some short term resistance at 42.33. When we breakthrough we will retest 52 for a triple top. Japan payment and initiation of phase 3 could be the just the fuel to make it happen. When the NASH candidate is identified no telling where this will go. Could also initiate ABBV to pull the trigger.