<My predictions are next week we see $18. >
Maybe this news will push it up there?????
biz.yahoo.com
This company [Lundbeck] just announced an IPO to raise about $300 million [2.1billion Kroner] that it will use to buy rights to new drugs from other biotech companies and expects that 20% of Lundbecks 2004 sales will be based on licensed drugs.
I'd love to have the "science guys" comment [Harmon,Suzman,Zuanic, others?] on the science involved: "The collaboration will focus on the development of receptor tyrosine kinase (RTK) inhibitors, a novel class of orally active, small molecues which inhibit specific kinases associated with the death of neurons. In preclinical studies, these molecules have been shown to promote neuronal survival in animal models of Parkinson's disease and Alzheimer's disease. Initially, the program will seek to advance Cephalon's lead molecule, CEP-1347, into clinical development for the treatment of Parkinsonn's disease."
The deal looks pretty darn good to me:
"Cephalon will retain exclusive rights in the U.S."
Of course we don't know royalty rate in Europe, but looks like CEPH deals from a position of strength, and Lundbeck is clearly reaching to remain a player with their big product coming off patent, and cash to burn from their new IPO.
Comments anyone?
DAK |
