Pharmaceutical Processing World

  • Home
  • Regulatory
    • Recalls
  • Pharmaceutical Processing
  • Facility
  • Supply Chain
  • Equipment and Materials
  • Contract Manufacturing
  • R&D 100 Awards

Cubist Pharma Rises on Talks of Sale to Shire

By Pharmaceutical Processing | May 27, 2011

 

NEW YORK
(AP) — Shares of Cubist Pharmaceuticals Inc. rose on speculation the company
may be acquired by Irish drugmaker Shire PLC.

THE SPARK: The Daily Telegraph of London first linked Shire
to Cubist on Monday. Speculation about a $2 billion deal appeared to gain steam
after a Shire executive resigned from Cubist’s board of directors. After the
market closed on Wednesday, Cubist disclosed that Dr. Sylvie Gregoire resigned
from its board. Gregoire is Shire’s president of human genetic therapies, and
she has sat on the Cubist board since 2006. Her current term on the board was
scheduled to expire in 2013. Cubist said Gregoire resigned May 19.

A Cubist Pharmaceuticals spokesman the company would not comment
on market speculation. He said Gregoire resigned because she plans to move to Europe.

THE BIG PICTURE: Shire makes several treatments for
attention deficit hyperactivity disorder, including Adderall XR. Cubist’s only
approved product is Cubicin, which is used to treat severe skin and bloodstream
infections. The company is based in Lexington,
Mass.

On May 17, Shire agreed to buy Advanced BioHealing Inc. for
$750 million.

SHARE ACTION: Cubist shares rose $1.60, or 4.4 percent, to
$38.36 in afternoon trading. The stock reached an annual high of $39.29 earlier
in the day. Shire stock gained 11 cents to $91.54.

 

Related Articles Read More >

vaccine
U.S. government makes an additional 442,000 monkeypox vaccine doses available 
A Zipline fixed-wing drone in the air drops a package
Cardinal Health starts Zipline drone deliveries of drugs and medical supplies
Pfizer logo
Pfizer to spend $120M to make COVID-19 oral treatment in U.S.
Image of MedTrace Pharma's P3 automated delivery system for 15-O water in action
MedTrace Pharma moves forward on 15 O-water imaging tech

DeviceTalks Tuesdays

DeviceTalks Tuesdays

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.

Need Pharmaceutical Processing news in a minute?

We Deliver!
Pharmaceutical Processing Enewsletters get you caught up on all the mission critical news you need. Sign up today.
Enews Signup
Pharmaceutical Processing World
  • Subscribe to Our Free E-Newsletter
  • Contact Us
  • About Us
  • Advertise With Us
  • R&D World
  • Drug Delivery Business News
  • Drug Discovery & Development
  • DeviceTalks
  • MassDevice
  • Medical Design & Outsourcing
  • MEDICAL TUBING + EXTRUSION
  • Medical Design Sourcing
  • Medtech100 Index

Copyright © 2022 WTWH Media LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media
Privacy Policy | Advertising | About Us

Search Pharmaceutical Processing World

  • Home
  • Regulatory
    • Recalls
  • Pharmaceutical Processing
  • Facility
  • Supply Chain
  • Equipment and Materials
  • Contract Manufacturing
  • R&D 100 Awards