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☆ Risky biotech M&A therapy will heal more fractures
▼ + stars: | 2023-10-19 | by ( Jonathan Guilford | ) www.reuters.com time to read: +8 min

NEW YORK, Oct 19 (Reuters Breakingviews) - How can a suitor offering $1 billion see eye-to-eye with a seller asking for $2 billion? Such contingent value rights, or CVRs, are a way to get around the inherent uncertainty of an unproven drug. Its $74 billion takeover of Celgene in 2019 included a $6.4 billion payout dependent on a trio of drug approvals. There have been only 27 biotech market debuts this year, raising $2.2 billion, according to LSEG data. Given the nagging fissures in valuation perspectives, however, more dealmakers are apt to try this risky M&A therapy.

Persons: Schulman, Sidley, Bristol Myers, Myers, CVRs, Andrew Weisenfeld, IPOs, ”, Dan Lepanto, biopharma, Eli Lilly’s, Bristol Myers Squibb, Jeffrey Goldfarb, Sharon Lam, Streisand Neto Organizations: Reuters, Dow, Marion Laboratories, LyondellBasell Industries, Mirati Therapeutics, JPMorgan, Sanofi, Health Partners, Nasdaq Biotechnology, Reuters Graphics Reuters, Reuters Graphics, Leerink Partners, Therapeutics, Public, Bristol Myers, U.S . Food, Drug Administration, Thomson Locations: Celgene, Genzyme, U.S

☆ Eli Lilly is on a buying spree. Here’s what it means for investors like us
▼ + stars: | 2023-10-05 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +9 min

Still, he said it's "healthy" for a company like Eli Lilly — valued over $500 billion, as of Thursday — to be executing smaller deals. "They can still put their mark on an asset or a constellation of drugs," said Seigerman, who has a buy rating and $633-per-share price target on Eli Lilly stock. LLY 1Y mountain Eli Lilly's stock performance over the past 12 months. Details on the deals The three companies Eli Lilly bought this summer have drugs in various stages of the clinical development process. In the near term, though, they may result in a noisy third-quarter earnings report as Eli Lilly records the acquisitions.

Persons: Eli Lilly, Mounjaro, Jim Cramer, Eli Lilly's, Lilly, –, Verzenio, Evan Seigerman, Eli Lilly —, Seigerman, Lilly's, Dice, Versanis, Sigilon, that's, BMO's Seigerman, Eli, we'd, Jim Cramer's, Jim, Daniel Acker Organizations: Indianapolis, U.S . Food, Drug Administration, BMO Capital, Immunology, Therapeutics, Siligon Therapeutics, Oncology, Club, Department of Health, Human Services, Dice Therapeutics, Alzheimer's, Treasury, CNBC, Bloomberg, Getty

☆ Eli Lilly to buy Sigilon Therapeutics to expand diabetes treatments
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

A major provider of diabetes drugs and insulin, Lilly owned nearly 8.44% stake in Sigilon as of March 27. It would pay $14.92 per share, or $34.6 million in upfront cash, for the rest of the company. Sigilon shareholders will get an additional $111.64 per share if they achieve certain developmental and regulatory milestones, Lilly said. The deal, which is expected to close in the third quarter of 2023, would give Lilly access to Sigilon's proprietary cell therapy candidate being developed to treat type 1 diabetes. The two companies have been partners since 2018, when Lilly paid Sigilon $63 million for a licensing deal to develop cell therapes targeting type 1 diabetes and made an undisclosed equity investment.

Persons: Eli Lilly, Lilly, Sigilon, Mariam Sunny, Shilpi Majumdar Organizations: Sigilon Therapeutics, Thomson Locations: Sigilon, Bengaluru

☆ Stocks making the biggest moves midday: Occidental Petroleum, Wells Fargo, Micron, Joby and more
▼ + stars: | 2023-06-29 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Analyst Adam Jonas's $13 price target implies more than 70% upside from Wednesday's close for the stock. Wells Fargo climbed 3.4% while JPMorgan and Bank of America added more than 2% each. Tenaris — The pipe manufacturer rose 2.4% after Jefferies initiated coverage of the stock at a buy, citing a compelling risk-reward ratio. Occidental Petroleum - Shares of the oil giant rose nearly 1% after Warren Buffett's Berkshire Hathaway once again increased its stake. Sigilon Therapeutics — Shares soared more than 500% on news that pharmaceutical company Eli Lilly would purchase Sigilon for as much as $126.56 per share.

Persons: Freyr — Freyr Battery, Morgan Stanley, Adam Jonas's, Wells, Jefferies, Warren Buffett's Berkshire Hathaway, Eli Lilly, — CNBC's Michelle Fox, Alex Harring, Sarah Min, Yun Li Organizations: JPMorgan Chase, Bank of America —, JPMorgan, Bank of America, Micron Technology, Micron, Occidental Petroleum, Occidental, Joby, SK Telecom, Sigilon Therapeutics, Therapeutics, Food and Drug Administration Locations: Salt Lake City , Utah, Wells Fargo, China, Occidental, Houston

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