Amgen Inc. offered to purchase Human Genome Sciences, Inc. at $35 per share in 2010, but the preliminary $7 billion bid was turned downed, according to sources to Reuters. Last week, Human Genome agreed to be acquired by GlaxoSmithKline for $14.25 per share, or a total of $3 billion. Shares closed up 5.84 percent on the day at $83.92, and have traded in a 52-week range of $47.66 to $80.25.
Ariad Pharmaceuticals, Inc. reported the initiation of the randomized Phase 3 trial of ponatinib, its investigational pan-BCR-ABL inhibitor, in adult patients suffering from newly diagnosed chronic myeloid leukemia. The EPIC trial is designed to provide definitive clinical data in support of regulatory approval of ponatinib in treatment-nave patients. The efficacy of ponatinib will be evaluated compared with imatinib based on assessment of the primary endpoint of major molecular response rate at 12 months. The firm intends to finalize patient enrollment in the trial by the end of next year. Shares closed up 6.23 percent on the day at $18.92, having been traded in a 52-week range of $7.55 to $18.39.
AuthenTec, Inc. said that it has reached an Intellectual Property and Technology Agreement with Apple and its wholly owned subsidiary Bryce Acquisition Corporation. Each share of AuthenTec will be automatically cancelled and converted into an option to receive $8.00 in cash, without interest. The firm is subject to the usual “no-shop” restrictions. The IP Agreement allows Apple the right to purchase non-exclusive licenses and certain other rights concerning hardware technology, software technology and patents of the company. Apple will pay AuthenTec $20 million for the right to purchase such non-exclusive licenses and other rights, and will have 270 days from the date of the IP Agreement to choose, at its sole discretion, to license certain hardware technology and patents and/or certain software technology and patents on a perpetual, non-exclusive basis, for an aggregate amount to a maximum of $115 million. Shares closed up 66.07 percent on the day at $8.42, having traded in a 52-week range of $2.23 to $5.34.
Biogen Idec, Inc. : Pfizer Incorporated’s jointly developed Alzheimer therapy bapineuzumab showed disappointing results, and the two other drug firms, Elan Corp. (ELIN) and Johnson & Johnson , who helped with the project, are seeing their shares down in reaction as well, according to Bloomberg. The situation leaves Elan with only one major product, namely the multiple sclerosis treatment Tysabri, which Biogen co-owns, all of which prompts the $7.1 billion firm for a deal with that firm, think Jefferies Group and Royal Bank of Canada. Biogen shares closed up 1.16 percent on the day at $149.47, having been traded in a 52-week range of $83.83 to $148.31.
DTE Energy Company released the following statement: “Increased electricity usage so far this summer has boosted operating earnings and helped to offset the impact the warm first quarter had on our gas utility’s earnings. We are off to a great start on our 2012 target of $575 million, with $346 million of Michigan spent through June. This is an $81 million increase over year-to-date June 2011 and illustrates DTE Energy’s commitment to be a force for growth and prosperity in our state.” Shares closed up 1.71 percent on the day at $61.15, and have traded in a 52-week range of $43.22 to $61.25.
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