US biotech drug developer rejects GSK takeover bid
ROCKVILLE, Maryland - Biotech drug developer Human Genome Sciences Inc. Thursday rejected an unsolicited $2.59 billion takeover offer from British drug maker GlaxoSmithKline PLC, saying its $13 per share in cash undervalues the company.
While rejecting the takeover bid, HGS did not rule out the possibility of a sale in future.
In a statement, HGS revealed plans to explore strategic options, which could include a potential sale of the company. It invited GlaxoSmithKline to participate in its exploratory process.
As part of the process, the company said it has "requested additional information regarding investigational products in GSK's clinical pipeline to which HGS has substantial financial rights, including darapladib, currently in Phase 3 development for the treatment of cardiovascular disease, and albiglutide, currently in Phase 3 development for the treatment of type 2 diabetes."
Clarifying that there is no assurance that any transaction will occur or if so on what terms, HGS has declined to discuss the status of its evaluation "unless and until a specific transaction has been approved".
The UK based GSK offer of $13 per share is an 81 per cent premium to HGS closing price of $7.17 per share on Wednesday. HGS currently has about 199.1 million outstanding shares, according to FactSet.
Shares of HGS jumped $6.73, or 93.9 per cent, to $13.90 in premarket trading, while GSK's stock added 71 cents to $47.08.
GlaxoSmithKline is HGS' partner on the lupus drug Benlysta. Speculation has swirled since October that GlaxoSmithKline may try to buy Human Genome.
HGS announced that in the best interests of shareholders Goldman, Sachs Co. and Credit Suisse Securities (USA) LLC were being retained to assist in the process of studying strategic options, including possible sale.
Comments
More Russia News
RSS-
Hollywood star Steven Seagal visits Chechnya
Hollywood star Steven Seagal spent some time with Ramzan Kadyrov, the former militant fighter who now heads Chechnya, in the latest in a series of visits by Western celebrities to the volatile Russian republic. "The famous American actor, film producer, writer, director and martial arts expert (seventh dan aikido) Steven Seagal visited our republic today (Wednesday)," Kadyrov wrote on ...
-
Farmer chains employee scalds him with boiling water
A farmer in south Russia allegedly chained up an employee and scalded him with boiling water, police said. The alleged victim in Krasnodar territory told investigators that he had worked for the farmer for a certain period of time, but when he decided to leave, unsatisfied with his working conditions, his former employer caught him. "The victim says the farmer hunted him down and put him on a ...
-
Council of Europe Concerned About Russias Human-Rights Record
MOSCOW Thorbjorn Jagland, secretary general of the Council of Europe, has told President Vladimir Putin that the human rights body is concerned about Russia's law requiring non-governmental organizations to register as foreign agents. Jagland said Europe will watch how the Kremlin implements the law that went in effect last November, a measure requiring non-governmental organizations ...
-
Kremlin cracks down on recruiting in former USSR by Syrian rebels
Special to WorldTribune.com MOSCOW -- Russia has launched a crackdown on efforts to recruit fighters for the Sunni revolt in Syria. Officials said the Kremlin has ordered authorities to intensify monitoring of Islamist groups in Russia to stop the recruitment of fighters to ...
-
Commercial banks overstating current risks in Russia’s economy
VORONEZH, May 23 (Itar-Tass) - Commercial banks are apparently overstating the risks that exist in Russia’s economy today, President Vladimir Putin said Thursday at a conference with businessmen in the city of ...
-
Russian Intelligence Agency Warns of Rise in Terror Threat
MOSCOW, May 23 (RIA Novosti) - Russia's military intelligence agency, the GRU, expects the Taliban influence in Afghanistan to grow after international coalition forces are pulled out, while rising radicalism in Syria could lead to the country's disintegration, the GRU chief said on Thursday. Lt. Gen. Igor Sergun said the situation in Afghanistan poses a "serious challenge to ...
-
Russia US Perceptions Hit 4-Year Low – Poll
MOSCOW, May 23 (RIA Novosti) – Russian and US perceptions of each other’s role in the world have deteriorated over the past year, hitting their lowest point since 2009, according to a new survey commissioned by the BBC World Service. According to the 2013 Country Ratings poll conducted by GlobeScan/PIPA, 23 percent of those surveyed in America have a "mainly positive" view ...
-
Space Telescopes Capture Rare Birth of Mega-Galaxy
WASHINGTON, May 23 (RIA Novosti) - US researchers have captured rare images of the creation of a massive galaxy about 10 times the size of the Milky Way that was formed when two young galaxies collided 11 billion years ago, a study published this week says."Capturing the creation of this type of large, short-lived star body is extremely rare - the equivalent of discovering a missing link ...
-
Водоворот Мирового Падения Втянул Российский Рынок В Свою Воронку
????? ?? ?????????? ????? ? ???????, 23 ???, ?????????? ? ??????? ?????????, ?????????? ? ??????????? ????????, ? ?? ?? ?????? ???????? ??? ???????? ????????? ????????? ????????. ???????? ??????? ????????? ??? ??? ?????????. ????????????? ?????????? ?? ??? ? ??????????? ???? ???????? ????? ?????????? ??? ? ??????????? ??????????? "???????" FOMC ?? ?????????????? ??????????? ??????? ?? ...
-
Credit Suisse Шансы на смягчение политики Ц уменьшаются
Rietumu: ? ????????? ??? ???? ?? ????? Brent ????? ?????? ???????????? ?????? 98,76 ????. ...
-
В.путин Пообещал Что Решение По Проблеме Роста Тарифов Естественных Монополий удет Принято В лижайшее Время.
? ????????? ????? ????????? ????????? ?????????? ?? ? ??????? ?????????????, ?? ??????? ??????????? ??????? ??????? ?? ??????? ? ????? ??????? ???????????? ?????????. ?? ???? ??????? ????????? ?? ???????? ????? ?? ??????? ? ??????-???????????, ??????? ?? ????????? ??????? ? ???, ??? ??????? ???? ??????? - ??? ???????? ???????? ?????????????? ???????. ?? ?? ??????, ?????? ???? ??????? ????????? ...
-
ФосАгро 27 мая опубликует отчетность по МСФО за I квартал 2013г.
??? "???????" ????????? 27 ??? 2013?. ???????????? ?????????? ???????????? ?? ????????????? ?????????? ?????????? ?????????? (????) ?? I ??????? ???????? ????, ????????? ? ?????????? ...
-
Президент Роснефти обсудил с министром нефти и главой МИД Венесуэлы вопросы сотрудничества двух стран.
????????? ??? "?? "????????" ????? ????? ??????? ? ????????? ????? ????????? ???????? ????????? ??????? ????????? ?????????????? ? ?????????????? ????? ????? ????? ????????. ?? ???? ???????? ?????-?????? ...
-
Торги На Российском Рынке Акций Завершились Падением Индекса Ммвб На 356 Ртс - На 418.
????? ?? ?????????? ????? ????? ??????????? ???????? ???????? ????????. ???, ?????? ???? ?????? ?? 3,56% - ?? ??????? 1396,91 ??????, ?????? ??? - ?? 4,18% - ?? 1400,84 ??????. ????? ?????? ?? ?????? ??? ???????? ????? 400 ???? ...
-
Совет директоров Россетей рекомендует дивиденды за 2012г. в размере 008 руб. на преф.
????? ?????????? "????????" ??????????? ????????? ?? 2012?. ? ??????? 0,08 ???. ?? ????????????????? ?????. ?? ???? ????????? ? ?????????? ...
-
ИК Велес Капитал На российском долговом рынке прошла волна распродаж
?? ?????????? ????? ?????? ????? ?????????, ???????????????? ????????? ???????????? ?. ???????? ? ???????? ??????????? ?? ?????, ???????? ???????? ?? "????? ???????". ? ??? ??????? ????????? ????????? 130 ?.?., ?????????? ??????? ?? 10-20 ?.?. ?? ????????????? ?????? ????????? ??????????? ?? ????? ??????, ??????? ???????? ???? ?????????. ????????? ? ??????? ?????? ?? 5-10 ?.?. ???? ...
-
Rietumu Сегодня цены на золото снова корректируются
? ????? ?????? ?? ???????????? ???? ???????? ?????? ?????????? 1414,25 ????./?????, ?????? ?? ???? ?? ???????????? ??? ??????????? ????, ???????? ???????? ????? Rietumu. ?? ?????? ???, ?????? ????????? ?? ??????? 1368,54. ??????? ?????? ?????????????? - ????????????? ????????? ????, ???????? ?? 1383,41. ????????? ???????? - 1414,25 ???????????? ??????? ?????????????, ? ????????? ??????? ...
-
В Четверг Европейские Фондовые Индексы Заметно Скорректировались
????? ??????? ? ?????? ? ???????, 23 ???, ????????? ?????????? ??????? ????????. ??????? ?? ??????????? ?????? ???????? ????? ?? ??????? ?? ???????? ????? ? ????????? ????????? ?? ???????????? ??????. ??????? ??? ????????? ????????? ??????? ?? ??? ? ??????????? ??????? ?????????? ????????????? ...
-
Sir Paul McCartneys protests fail to help Pussy Riot
Sir Paul called for Alyokhina's release on his website, as well as writing letters to the judge adding his voice to a growing list of celebrities who say the punishment of members of Pussy Riot was ...
-
No foreign movies to be shown on Russia’s Public Television - says PRT chief Lysenko
? ????????????, ?????????????, ????????????, ??????????, ?????????? ????? ?????? ? ????. - ??????????? ????? ???????? ...
-
Ecuador satellite collides with Russian space junk
A small Ecuadoran satellite collided in orbit with the remains of a Russian rocket, but it is too soon to know how much damage it might have sustained, Quito's space agency said ...
-
Crimean Tatars Rally to Expel Russian Consul
SIMFEROPOL, May 23 (RIA Novosti) – About 300 people, mostly Crimean Tatars, are rallying outside the Russian Consulate in the Ukrainian city of Simferopol, demanding that the Russian Consul there be stripped of diplomatic status and declared persona non grata. The protests broke out after Russian Consul Vladimir Andreyev criticized a movie about the 1944 deportation of Crimean Tatars to ...
News from around our Network
Comments
No comments yet for this story
Have your say