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(AMGN) could be nearing a deal to buy Alexion Pharmaceuticals (ALXN) at a 74% premium, according to a Spanish news outlet.XLate Wednesday, Intereconomia.com reported Amgen is "in the final stretch to buy Alexion" for $200 per share, Mizuho Securities analyst Salim Syed said in a report. Intereconomia.com cited people familiar with the matter.Syed sees the rumored deal as highly accretive to biotech company Amgen. Intereconomia.com began reporting the potential matchup in late July. Some investors are seemingly on board, he said. In February, 13% of investors surveyed by Mizuho said Amgen should buy Alexion."The concept of this happening doesn't sound too crazy to me," Syed said.Amgen declined to comment "on market rumors" in an email to Investor's Business Daily. Reached late Thursday, Alexion also didn't offer a comment on the report.On the stock market today, Amgen stock sank 0.3% to close at 203.42. Alexion stock soared 7.5% to finish at 123.49.Will Biotech Company Amgen Buy?Amgen is beginning to get "cagey" around the potential for mergers, Syed said. Meanwhile, some of its biggest products are facing biosimilar competition. To Amgen's credit, the biotech company recently fended off a copycat of its blockbuster inflammation drug Enbrel.Still, about half of the investors in Mizuho's February survey said Amgen should buy something. Alexion was the most cited takeover candidate among biotech companies.Many mergers are announced on Mondays, Syed said."The mood here is reading similar to Gilead Sciences (GILD) and (Kite Pharma)," he said. It's "getting very quiet ... and that deal was announced in the last week of August 2017."Merger Activity Robust For BiotechsMerger activity has been robust for biotech companies in 2019.Bristol-Myers Squibb (BMY) is buying Celgene (CELG) for $74 billion, and AbbVie (ABBV) is taking out Allergan (AGN) for $63 billion. Roche (RHHBY) is trying to acquire Spark Therapeutics (ONCE) for $4.8 billion.Pfizer (PFE) bought Array Biopharma for $11.4 billion. Eli Lilly (LLY) paid $8 billion for Loxo Oncology, and Biogen (BIIB) bought Nightstar Therapeutics for $800 million.With Alexion, Amgen would get its hands on blockbuster drug Soliris. Soliris treats several rare diseases of the blood, muscles, optic nerve and spinal cord. In the second quarter, Soliris brought in $980.8 million in sales, accounting for nearly 82% of total sales.Alexion also makes Ultomiris, a next-generation version of Soliris. The biotech company is trying to switch Soliris patients to Ultomiris in an effort to fend off a sales decline when Soliris loses patent protection. So far, Ultomiris is approved for one blood disorder.Follow Allison Gatlin on Twitter at @IBD_AGatlin.YOU MIGHT ALSO LIKE:Should You Buy Pharma Giant Merck? Here's What Earnings, Merck Stock Chart SayBiotech Stock Crashes To 3-Year Low After Its High-Risk Drug FailedWant More IBD Insights? Subscribe To Our Investing Podcast!Run Custom Stock Screens With MarketSmithIBD 50 Growth Stocks To WatchThe post Biotech Giant Amgen Could Be Nearing A Massive Takeover: Report appeared first on Investor's Business Daily. Weiter zum vollständigen Artikel bei "Investors Business Daily"
Quelle: Investors Business Daily