InterMune stock vaulted 36% on the stock market today, a day after the biotech company agreed to be bought by Roche for $8.3 billion. The rumor mill had been grinding since Aug. 13, when InterMune (ITMN) hired financial advisers for a possible sale. The price comes to $74 a share, 38% above InterMune’s Friday closing price and 63% above its Aug. 12 closing price. At that time, Bloomberg reported that not only Roche (RHHBY) but Sanofi (SNY),
Illumina (ILMN), a maker of DNA sequencing products, said Thursday that it has struck strategic partnerships with several big drugmakers to develop what it calls a universal next-generation sequencing-based oncology test system for cancer diagnosis. The initial strategic partners include AstraZeneca (AZN), Janssen Biotech and Sanofi (SNY). Illumina says the system will be used to conduct clinical trials for specific cancer therapies. It will help
Regeneron Pharmaceuticals (REGN) rebounded more than 6% in afternoon trading on the stock market today when development partner Sanofi (SNY) said in a U.S. regulatory filing that it will raise its stake from 20.44% to 22.5%. The French drug giant’s move comes after Regeneron superstar Eylea, a treatment for age-related macular degeneration (AMD), received a European Medicines Agency endorsement on Friday to expand its use to other types of vision