HI HATER!Quote:
Originally Posted by mmmmpsi
HI HATER!Quote:
Originally Posted by mmmmpsi
bye hater
i still wub joo.
+1 :goodjob: :idb: :cheers: :crazy: :bump: :love: :DQuote:
Originally Posted by ilovemyhonda.
awwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwww i wub joo to.
An absolutely crazy bullish chart. I will explain for those that are interested. :)
http://www.xtupload.com/new/image-AE8F_4A686ECE.jpg
Bill i wub joo.
We're going to break 9000 today!! Fuck ya..
Dow
8,979.05 +97.79 (1.10%)
S&P 500
965.34 +11.27 (1.18%)
Nasdaq
1,951.16 +24.78 (1.29%
DID I NOT SAY THAT EARLIER IN THE WEEK?? wow I'm good. :)
HI!
HI!
I'm going to take a nap.... holla....
aww you want me to tuck you in and give you my teddy bear?
WOW To the MOON!!!
Dow
9,010.34 +129.08 (1.45%)
S&P 500
968.53 +14.46 (1.52%)
Nasdaq
1,954.40 +28.02 (1.45%)
:bigsmilieQuote:
Originally Posted by ilovemyhonda.
Bristol-Myers Buys Medarex Drugmaker for $2.4 Billion (Update2)
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By Tom Randall
July 23 (Bloomberg) -- Bristol-Myers Squibb Co. said it agreed to buy Medarex Inc. for about $2.4 billion to double its pipeline of experimental biological drugs, including one nearing U.S. approval for skin cancer.
Bristol-Myers will pay $16 a share, a 90 percent premium over yesterday’s closing price of $8.40 a share for Princeton, New Jersey-based Medarex, the companies said in a statement. Medarex has about $300 million in cash and securities that reduces the price to about $2.1 billion, Bristol-Myers said. Both boards agreed to the deal, the statement said.
The New York-based drugmaker is acquiring companies and forming partnerships to find new products to offset losses from Plavix, its top-selling medicine, when the anti-clotting drug faces generic competition in 2012. The deal gives Bristol-Myers full ownership of the skin-cancer drug ipilimumab, which it had been developing jointly with Medarex.
“If melanoma success is achieved, we believe the deal will seem particularly, and strategically, smart,” said Catherine Arnold, an analyst at Credit Suisse in New York. “The acquisition of Medarex provides Bristol-Myers with new capabilities and future royalty streams.”
Bristol-Myers said it will pay for the acquisition with cash, and the companies expect to close the deal in about 30 days. Bristol-Myers had about $9 billion in cash as of June 30, according to the company.
Bristol-Myers rose 10 cents, or 1 percent, to $20.50 at 9:54 a.m. in New York Stock Exchange composite trading. Medarex soared 89 percent, or $7.46, to $15.86 in Nasdaq trading.
‘Important Step’
“This is a strategic buy for Bristol to strengthen the biotech business,” Mitsuo Ohmi, a Tokyo-based health-care analyst at Japan Advisory LLC, said today in a telephone interview. “The premium looks high but it’s a great deal for what Bristol is getting in the long run. It will take some time to see an earnings contribution from the takeover.”
Cornelius also has been eliminating jobs and outsourcing research to meet a goal of reducing costs at Bristol-Myers by $2.5 billion in the next three years.
Ipilimumab, an experimental drug for metastatic melanoma, is in the third and final stage of testing typically required for U.S. Food and Drug Administration approval. The drug is also being studied in lung and prostate cancers.
Last month, Medarex shares jumped 13 percent after the Mayo Clinic said three prostate cancer patients who received ipilimumab are now cancer-free. Doctors reported the drug, in combination with other treatments, helped kill prostate cancer cells and shrink the tumors in the patients, allowing surgery.
Experimental Treatments
Bristol-Myers will gain rights to seven experimental antibodies owned by Medarex and stakes in three more drugs shared by the company, according to the statement. It will also acquire Medarex’s drug-development technology, used to find new ways to treat cancer and immunology disorders.
“Medarex’s technology platform, people and pipeline provide a strong component to our company’s biologics strategy, specifically immuno-oncology,” James M. Cornelius, Bristol- Myers chief executive officer, said in the statement. “This acquisition is another important step in our biopharma transformation.”
Cornelius’s strategy contrasts with mergers carried out by some of Bristol-Myers’ rival drugmakers. New York-based Pfizer Inc. is purchasing Wyeth of Madison, New Jersey, in a deal valued at $66 billion. Merck & Co., based in Whitehouse Station, New Jersey, is taking over Schering-Plough Corp. of Kenilworth, New Jersey, for about $46 billion.
“When you look at a company like Medarex, it really ticks all of the boxes in what we’re looking for,” Brian Henry, a spokesman for Bristol-Myers, said in a telephone interview. It matches Cornelius’s “string of pearls” of increasing the company’s focus on biological drugs through strategic acquisitions in oncology and immunology, Henry said.
“The number of biologics in our pipeline almost doubled in this deal,” Henry said. The companies have been in discussions “for a few months,” he said.
Bristol today said second-quarter profit from continuing operations rose 36 percent, topping analysts’ estimates, as the company eliminated jobs and sold more of its mood-stabilizing drug Abilify and Plavix blood thinner. Sales rose 3.5 percent to $5.38 billion.
Nicole Ochsner, a spokeswoman for Medarex, didn’t return a phone call for comment.
JPMorgan Chase is financial adviser for Bristol-Myers on the deal, and Cravath, Swaine & Moore LLP represents them. Medarex is advised by Goldman Sachs and represented by Covington & Burling LLP.
To contact the reporter on this story: Tom Randall in New York at
Quote:
Originally Posted by oneSLOWex
awwwwwwwwwwwwwwwwwww