Stockwatch: Teva, Biogen, Ionis, Sage And The Art Of Strategic News Placement
Earnings announcements from Teva and clinical trial results from Biogen, Ionis and Sage have turned out to have quite different interpretations in retrospect. Exciting news can sometimes look more like a vehicle for strategically timed stock promotion than a genuine material event.
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Biogen's share price has risen on speculation that it is an acquisition target for Merck & Co and Allergan. But with a number of uncertainties hanging over the company, can Biogen negotiate a premium price?
Promising top-line Phase III data have prompted Biogen to exercise an option to develop and commercialize Ionis's novel antisense treatment nusinersen for infantile-onset spinal muscular atrophy; filings are due shortly.
The company provided updated mid-term guidance for the combined company, net revenues of $26.7bn to $27.8bn and EBITDA of $10.7bn to $11.5bn in 2019. The deal is expected to close any day, management assured investors.