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Best of the Blogs, Biotech: Glaxo Cures Poison Pill With Human Genome Buyout


Plus, TPG pays premium for Par Pharmaceutical.

This column highlights the most interesting and useful biotech news from around the Web every week.

Link: BREAKING: GSK closes the deal on Human Genome Sciences for $3B

"After unsuccessfully struggling for three months to spur a bidding war, Human Genome Sciences (HGSI) threw in the towel today and accept a slightly sweetened offer from longtime partner GlaxoSmithKline (GSK). HGS signed on the dotted line for $14.25 a share, just $1.25 more than GSK offered back in April as it laid out its case for a buyout."

Link: TPG agrees to buy generic drugmaker Par for $1.9 billion

"Private equity firm TPG said on Monday it would acquire US-based Par Pharmaceutical Cos Inc (PRX) for $1.9 billion in the latest acquisition in the generic drug industry.

"The $50-a-share deal represents a nearly 37% premium over Par's closing price on Friday."

The Wall Street Journal: MarketWatch
Link: Orexigen has strong enrollment in Contrave study

"Orexigen Therapeutics Inc. (OREX) said it expects to complete enrollment earlier than expected for a study of cardiovascular risks associated with its weight-loss treatment Contrave, potentially cutting in half the time needed before performing an interim analysis of the data."

Seeking Alpha
Link: The Time To Buy Arena Pharmaceuticals Is Now

"One of the benefits for investors who focus in specific sectors is that new opportunities can come from research. While researching Theravance and Valeant over the last few quarters, Arena Pharmaceuticals (ARNA) came up recently. A number of readers bought Arena when shares traded below $6. This leaves investors noticing shares at the current price paying two-fold or more.

"Theravance and its partner GlaxoSmithKline PLC reported positive results from four Phase III tests for the treatment of chronic obstructive pulmonary disease ("COPD"). Theravance and GSK are testing LAMA/LABA, which is a mix of two molecules, in four 24-week long studies. LAMA/LABA are two molecules that dilate the bronchial passages."

Link: Alnylam and Ascletis collaborate to develop ALN-VSP for liver cancers in China

"US RNAi therapeutics specialties Alnylam Pharmaceuticals (ALNY) and Ascletis Pharmaceuticals, a privately held US-China joint venture pharmaceutical company, have formed a strategic collaboration for the development of ALN-VSP, a first-in-class, systemically delivered RNAi therapeutic for the treatment of liver cancers including hepatocellular carcinoma (HCC), a significant area of unmet need in China."
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