BioMarin Is Carrying The Biggest Target On Its Back, Morningstar Says
BioMarin’s focus on rare diseases and gene therapies and expected financial growth make it a logical acquisition target for almost any large pharma, though Biogen, Amgen and Regeneron also offer a beneficial fit for many.
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Wellington, the largest institutional shareholder in Bristol, and activist firm Starboard both have publicly opposed the Bristol/Celgene merger but the strong crossover of investors in both biopharmas suggests the deal will still obtain approval.
Novartis will take over development and commercialization of antisense candidate TQJ230 under rights it obtained in a 2017 agreement. Morphic and Janssen will collaborate on oral integrin inhibitors.
During BioMarin’s earnings call Feb. 21, CEO Bienaime indicated the company may be looking to price its valoctocogene roxaparvovec gene therapy at $2m-$3m, as it would represent a savings over the annual cost of infused clotting factor therapy.